Alex Weiss & Corey Horowitz Acquire Retail Property On Third Avenue In South Bronx For $3.2M
SOLD
$3,200,000
+ 1
New York
See Similar DealsRetail4,740 SF
Sold 10/29/2021
SOLD
Alex Weiss & Corey Horowitz Acquire Retail Property On Third Avenue In South Bronx For $3.2M
2805 3rd Avenue, Bronx, NY, USA
See Similar DealsRetail4,740 SF
Sold 10/29/2021
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$675
Total Square Footage:4,740 SF
Transaction Type:Sale
The property involved in this transaction is located at 2805 Third Avenue in the South Bronx. It is a retail asset with a zoning designation of R6, C2-4. The total square footage of the property is 4,740, and the purchase price per square foot is $675. The sale price for this transaction was $3,200,000, and the building has a building square footage (BSF) of 12,123. The price per building square foot (PPBSF) is $263.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $3,200,000
- Address: 2805 Third Avenue, South Bronx
- Market: South Bronx
- Zoning: R6, C2-4
The buyers in this transaction were Alex Weiss and Corey Horowitz, while the seller was James Ross. The brokers involved in the deal were Scott Plasky from Plasky Retail Group at Marcus & Millichap and Giancarlo Cugini from JLL.
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Deal Type
30 years
10 years
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
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