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Miguel Luna Purchases Retail Building In Bronx From Jeffrey Resnick For $5.9M

Property Image
SOLD
$5,900,000
Alexander (Alex) Arustamian
William "Billy" Stephan
Scott Plasky

New York

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Retail8,333 SF
Sold 08/30/2024
the dealplayerscompscontact
Property Image
SOLD

Miguel Luna Purchases Retail Building In Bronx From Jeffrey Resnick For $5.9M

3085 East Tremont Avenue

See Similar Deals
Retail8,333 SF
Sold 08/30/2024
Alexander (Alex) Arustamian
William "Billy" Stephan
Scott Plasky
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$708
Total Square Footage:8,333 SF
Transaction Type:Sale

A retail property located at 3085 East Tremont Avenue in the Bronx was sold for $5,900,000. The asset is an 8,333 square foot single-story building situated on a 20,000 square foot corner lot and includes a 20-car parking lot. The site was previously occupied by Walgreens and was delivered vacant upon closing.

Summary of transaction details:

This transaction involved Miguel Luna as the buyer and Jeffrey Resnick as the seller, with representation from brokers Scott Plasky, William Stephan, and Alexander Arustamian from Marcus & Millichap. The brokers facilitated the deal for the retail property in the Bronx market.

Players

William "Billy" Stephan
Marcus & Millichap
William Stephan
39 deals$236.5M volume
BROKER
Scott Plasky
Marcus & Millichap
Scott Plasky
78 deals$406.4M volume(212) 430-5229
BROKER
Alexander (Alex) Arustamian
Marcus & Millichap
Alexander Arustamian
24 deals$116M volume(212) 430-5276
BROKER

Details

SOLD
IMAGE: Scott Plasky, William Stephan & Alexander Arustamian DATE: 08/30/2024 ADDRESS: 3085 East Tremont Avenue MARKET: Bronx ASSET TYPE: Retail BUYER: Miguel Luna SELLER: Jeffrey Resnick BROKERS: Scott Plasky (@PlaskyRetailGroup), William Stephan (@BillyStephan_MM) & Alexander Arustamian (@Alex_Arustamian) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $5,900,000 SF: 8,333 ~ PPSF: $708 NOTE FROM BROKER: 8,333 SF single-story retail building resting on a 20K SF corner lot with a 20-car parking lot. The site had been occupied previously by Walgreens, and it was delivered vacant at the closing.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$20,961.45
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