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Raymond Chakkalo Acquires Retail Building At 2481 Creston Avenue In Bronx For $7.1M
SOLD
$7,100,000
New York
See Similar DealsRetail14,662 SF
Sold 01/07/2025
SOLD
Raymond Chakkalo Acquires Retail Building At 2481 Creston Avenue In Bronx For $7.1M
2481 Creston Avenue
See Similar DealsRetail14,662 SF
Sold 01/07/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$484
Total Square Footage:14,662 SF
Transaction Type:Sale
A retail building located at 2481 Creston Avenue in Fordham Manor, Bronx was acquired for $7.1 million. The property spans 30,616 BSF, translating to a price per BSF of $232. The building has a total square footage of 14,662, with a price per square foot of $484.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,100,000
- Buyer: Raymond Chakkalo
- Seller: Richard Scharf - Abro Management
- BSF: 30,616
- PPBSF: $232
- SF: 14,662
- PPSF: $484
Raymond Chakkalo’s 2481 Realty LLC was the buyer in this transaction, purchasing the property from Abro Management, which was represented by Richard Scharf in the deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$378,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
Annual Debt Service$403,891.47
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