Michael Zervos Acquires Retail Property In Wakefield, Bronx For $4.9M
980 East 233rd Street, Bronx, NY 10466
$4,900,000
$713/SF
Building Size
6,864 SF
Asset Type
Retail
Closing
Jun 1, 2020
About this deal
AI
The retail property located at 980 E. 233rd St. in Wakefield, Bronx has been sold for a price of $4,900,000. The transaction took place on 06/01/2021 and involved the buyer, Michael Zervos, and the seller, RJ Capital Holdings represented by Rudolf Abramov. The property spans approximately 6,864 square feet, resulting in a price per square foot of $713. The market for this asset was Wakefield, Bronx. The tenants of the retail space are Subway and Dunkin.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,900,000
- Date: 06/01/2021
- Address: 980 E. 233rd St.
- Buyer: Michael Zervos
- Seller: RJ Capital Holdings - Rudolf Abramov
- Tenants: Subway, Dunkin
Representing the buyer and seller in this deal were Michelle Abramov and Albert Aranbaev from ssetCRG. They played a key role in the successful completion of the transaction.
Players
New York 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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93