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Alen Franco Acquires Retail Asset In Fordham Bronx From Eli Gindi For $4.93M
SOLD
$4,925,013
New York
See Similar DealsRetail83,928 SF
Sold 01/30/2025
SOLD
Alen Franco Acquires Retail Asset In Fordham Bronx From Eli Gindi For $4.93M
350 East Fordham Road & 2511 Marion Avenue
See Similar DealsRetail83,928 SF
Sold 01/30/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$58
Total Square Footage:83,928 SF
Transaction Type:Sale
The retail asset located at 350 East Fordham Road & 2511 Marion Avenue in the Fordham market of Bronx has a total area of 41,964 square feet. The transaction involved a sale price of $4,925,013, equating to a price per square foot (PPSF) of $117.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,925,013
- Square Footage: 41,964
- Address: 350 East Fordham Road & 2511 Marion Avenue
- Market: Fordham, Bronx
Buyer Alen Franco completed the acquisition from seller Eli Gindi. This transaction highlights the involvement of both individuals in the retail property market within the Bronx area.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$262,667.36
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,497.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,347.07
Annual Debt Service$280,164.89
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