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Zohar Yaish Acquires Retail Strip In Allerton, Bronx For $3.2M

Property Image
SOLD
$3,200,000

New York

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Retail88,740 SF
Sold 05/28/2019
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Property Image
SOLD

Zohar Yaish Acquires Retail Strip In Allerton, Bronx For $3.2M

2542 Boston Rd, The Bronx, NY 10467, USA

See Similar Deals
Retail88,740 SF
Sold 05/28/2019
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$36
Total Square Footage:88,740 SF
Transaction Type:Sale

Located in Allerton, Bronx, the retail strip at 2542-2550 Boston Road has recently been sold in a closed transaction. The property spans across 8,874 square feet and was listed with an asking price of $3,500,000. The sale was finalized at a price of $3,200,000, resulting in a price per square foot of $360. The property is situated in a thriving market, offering great potential for business opportunities.

Summary of transaction details

  • Property Type: Retail Strip
  • Asking Price: $3,500,000
  • Sale Price: $3,200,000
  • Square Footage: 8,874
  • Price Per Square Foot: $360
  • Market: Allerton, Bronx

The seller of the property is Louis Buoninfante, while the buyer is Zohar Yaish. Representing the deal were brokers Eric Roth, Jonathan Squires, and Addison Berniker. Their expertise and negotiation skills played a crucial role in facilitating this successful transaction. This deal showcases the dedication and professionalism of all the individuals involved.

Players

Addison Berniker
18 deals$55.5M volume(212) 841-7505
BROKER

Eric Roth
Newmark
61 deals$1.5B volume(212) 655-0625
BROKER

Jonathan Squires
Cushman & Wakefield
93 deals$712.3M volume(917) 445-0022
BROKER

Details

SOLD
IMAGE: Addison Berniker, @EricMRoth, Jonathan Squires DATE: 05/28/2019 ADDRESS: 2542-2550 Boston Road MARKET: Allerton, Bronx ASSET TYPE: Retail Strip ASKING PRICE: $3,500,000 SALE PRICE: $3,200,000 SF: 8,874 PPSF: $360 SELLER: Louis Buoninfante BUYER: Zohar Yaish BROKERS: Eric Roth, Jonathan Squires, Addison Berniker

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

$170,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59