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204-220 West 238th Street

Drew Dvorkin's Bibbo Group Acquires Retail Property On 238th Street In Bronx For $3.2M
SOLDRetail

Drew Dvorkin's Bibbo Group Acquires Retail Property On 238th Street In Bronx For $3.2M

204-220 West 238th Street

$3,200,000

$533/SF

Building Size

6,000 SF

Asset Type

Retail

Closing

Mar 30, 2023

AI

The retail property located at 204-220 West 238th Street in Bronx, NY has been sold for a price of $3,200,000. The property spans across 6,000 square feet, resulting in a price per square foot of $533. The transaction took place on 03/30/2023, with the buyer being Drew Dvorkin from the Bibbo Group and the seller being Herb Freedman.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $3,200,000
  • Square Footage: 6,000
  • Price per Square Foot: $533
  • Date: 03/30/2023
  • Address: 204-220 West 238th Street, Bronx, NY
  • Buyer: Drew Dvorkin – Bibbo Group
  • Seller: Herb Freedman

The deal was facilitated by Karl Brumback and Giancarlo Cugini of JLL, representing both the buyer and the seller in the transaction.

Players

Karl Brumback

JLL

Broker

$388.3M

vol

25 deals

Broker

Herb Freedman

Seller

$5.9M

vol

3 deals

Seller

Market Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93