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Paul Gagliardi Acquires Retail Property In Fordham, Bronx For $13.8M

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SOLD
$13,800,000

New York

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Retail10,492 SF
Sold 12/16/2021
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Property Image
SOLD

Paul Gagliardi Acquires Retail Property In Fordham, Bronx For $13.8M

2535 Webster Avenue, The Bronx, New York 10458, United States

See Similar Deals
Retail10,492 SF
Sold 12/16/2021
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,315
Total Square Footage:10,492 SF
Transaction Type:Sale

The retail property located at 2535 Webster Avenue in Fordham, Bronx has been sold. The transaction took place on 12/16/2021. The property is zoned as C4-4 and has a total square footage of 10,492. The buyer, Paul Gagliardi, purchased the property from the seller, Jason Fishkind, for a price of $13,800,000. The building's square footage is 16,512, with a price per square foot of $836. The lot size is 4,800, and the last recorded sale of the property was on 9/24/2019 for $8,000,000. The property dimensions are 79.67 ft x 61.75 ft.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $13,800,000
  • Zoning: C4-4
  • Buyer: Paul Gagliardi
  • Seller: Jason Fishkind
  • Total Building Square Footage: 16,512
  • Price per Building Square Foot: $836
  • Total Square Footage: 10,492
  • Price per Square Foot: $1,315
  • Lot Size: 4,800
  • Last Sale Price: $8,000,000 (9/24/2019)
  • Lot Dimensions: 79.67 ft x 61.75 ft

Note: The property is classified as Tax Class 4 and has a Floor Area Ratio (FAR) of 2.19.

Players

3 deals$46.6M volume
BUYER

Details

SOLD
IMAGE: 12/16/2021 ADDRESS: 2535 Webster Avenue MARKET: Fordham, Bronx ASSET TYPE: Retail ~ ZONING: C4-4 BUYER: Paul Gagliardi SELLER: Jason Fishkind PRICE: $13,800,000 BSF: 16,512 ~ PPBSF: $836 SF: 10,492 ~ PPSF: $1,315 FAR: 2.19 TAX CLASS: 4 LOT SIZE: 4,800 LAST SALE PRICE: $8,000,000 (9/24/2019) LOT DIMENSION: 79.67 ft x 61.75 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$736,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,028.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,419.04
Annual Debt Service$785,028.49