Miguel Luna Purchases Retail Building In Bronx From Jeffrey Resnick For $5.9M
3085 East Tremont Avenue
$5,900,000
$708/SF
Building Size
8,333 SF
Asset Type
Retail
Closing
Aug 30, 2024
AI
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:
- Property Type: Retail
- Transaction Amount: $5,900,000
- Square Footage: 8,333
- Price Per Square Foot: $708
- Buyer: Miguel Luna
- Seller: Jeffrey Resnick
- Brokers: Scott Plasky, William Stephan & Alexander Arustamian - Marcus & Millichap
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
Bronx Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93