Ed Ostad Acquires Retail Property In Melrose, Bronx For $6.15M
SOLD
$6,150,000
New York
See Similar DealsRetail8,600 SF
Sold 05/11/2022
SOLD
Ed Ostad Acquires Retail Property In Melrose, Bronx For $6.15M
3037 3rd Avenue
See Similar DealsRetail8,600 SF
Sold 05/11/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$715
Total Square Footage:8,600 SF
Transaction Type:Sale
The retail property located at 3037 3rd Ave. in Melrose, Bronx has been sold for a price of $6,150,000. The property has a total area of 8,600 square feet and was sold at a price per square foot of $715. The transaction took place on 05/12/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,150,000
- Date: 05/12/2022
- Address: 3037 3rd Ave., Melrose, Bronx
- Market: Melrose, Bronx
- SF: 8,600
- PPSF: $715
The buyer of the property is Ed Ostad and the seller is the Moezinia Family. The brokerage firm involved in the deal is Friedman-Roth, with George Niblock representing the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$328,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,849.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,154.14
Annual Debt Service$349,849.65
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