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2131 Barnes Avenue, The Bro...

Aziz Tareb Acquires Retail Property In Bronxdale, Bronx For $5.6M
SOLDRetail

Aziz Tareb Acquires Retail Property In Bronxdale, Bronx For $5.6M

2131 Barnes Avenue, The Bronx, New York 10462, United States

$5,600,000

$571/SF

Building Size

9,800 SF

Asset Type

Retail

Closing

Oct 13, 2022

AI

A retail property located at 2131 Barnes Avenue in Bronxdale, Bronx has been sold in a closed transaction. The property is zoned as R7-1 and C1-3, allowing for various commercial uses.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,600,000
  • Market: Bronxdale, Bronx
  • Built Square Footage: 34,400
  • Price Per Square Foot: $162
  • Lot Size: 10,000 square feet
  • Lot Dimensions: 100 ft x 100 ft
  • Tax Class: 4
  • Permits: Alteration 2 (04/28/2017)

Aziz Tareb has acquired the property from Yuval Jacob for a total of $5,600,000. The property spans approximately 34,400 square feet, with a price per square foot of $162. Its lot size measures 10,000 square feet, specifically 100 feet by 100 feet. The transaction falls under tax class 4, and there is an alteration permit issued on April 28th, 2017.

Players

Aziz Tareb

Buyer

$32.2M

vol

7 deals

Buyer

Yuval Jacob

Seller

$39.3M

vol

2 deals

Seller

New York 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

2.83%

Cash-on-Cash

-0.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93