Empire State Equities Acquires Retail Condo In Bronx's Bedford Park For $1.45M
SOLD
$1,450,000
New York
See Similar DealsRetail2,856 SF
Sold 06/20/2019
SOLD
Empire State Equities Acquires Retail Condo In Bronx's Bedford Park For $1.45M
2962 Jerome Ave, The Bronx, NY 10468, USA
See Similar DealsRetail2,856 SF
Sold 06/20/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$507
Total Square Footage:2,856 SF
Transaction Type:Sale
A retail condo located at 2962 Jerome Avenue in The Bedford Park neighborhood of Bronx was recently sold in a closed transaction. The property measures 2,856 square feet and was sold for a sale price of $1,450,000. The asking price for the retail condo was $1,600,000, resulting in a price per square foot of $507.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $1,450,000
- Address: 2962 Jerome Avenue
- Market: The Bedford Park, Bronx
- Square Footage: 2,856
The seller of the retail condo was Russ Friedman, while the buyer was Empire State Equities represented by Paul Sohayegh. The brokers involved in the deal were John Squires and Addison Berniker.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88
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