Steven & Raymond Chera Sell Retail Property In East Tremont For $3.7M
SOLD
$3,700,000
New York
See Similar DealsRetail6,518 SF
Sold 12/08/2021
SOLD
Steven & Raymond Chera Sell Retail Property In East Tremont For $3.7M
707-709 East Tremont Avenue, Bronx, NY, 10457, USA
See Similar DealsRetail6,518 SF
Sold 12/08/2021
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$567
Total Square Footage:6,518 SF
Transaction Type:Sale
The retail property located at 707-709 East Tremont Avenue in the East Tremont market has been sold for a price of $3,700,000. The property has a total square footage of 6,518, with a price per square foot of $567. The building has a total buildable square footage of 18,104, resulting in a price per buildable square foot of $204. The property is zoned as C4-4A.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,700,000
- Address: 707-709 East Tremont Avenue
- Market: East Tremont
- Zoning: C4-4A
- Square Footage: 6,518
- Price per Square Foot: $567
- Buildable Square Footage: 18,104
- Price per Buildable Square Foot: $204
The seller of the property is Steven & Raymond Chera. The transaction was facilitated by broker Itai Hakimian from HPNY.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$197,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65
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