Bellissimo Little Italy Belmont Mixed Use

Listing ID: 77
Last Updated: 08 22, 2016
Property Type(s):
Property Use Type:
Contact : Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Make an offer to buy this property

Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Asking Price: $ 2,500,000Opinion of Value: $ 2,800,000
Down Payment: $ 0Year Built:
Property Size
Existing Built Square Footage: 10,874 Sq.FtLand Plot Lot Size: 2,188 Square Feet
Lot Frontage: Lot Depth:
Number of Units: 9Percent Occupied: 100 %
Investment Type:  


Bellissimo Little Italy Belmont 2.5M.pdf

Property Details

Property Description :

A 6 story Elevator Apartment Building with Seven 2 Bedroom Apartments and 2 Commercial Offices in the Little Italy/Belmont section of the Bronx. Each Rear Apartment has a Patio or Balcony.

Property Location :

Little Italy

Highlights :

Newly Built 2008 Elevator Building
Located in Beautiful Section of Little Italy
Great Upside to Increase to Market Rent
Close to Shopping and Entertainment
MTA Transportation BX 12, 17, 19 buses and the B & D Trains on Grand Concourse
Hardwood Floors, New Kitchen Appliances & 3 Piece Bathroom

Property Financials

  Annual IncomeAnalytical Calculations
Scheduled Gross Income, Annually:$ 168,365Gross Rent Multiplier:
Less Vacancy & Collection Loss Assumption:$ 8,418Capitalization Rate:4.1 %
Reimbursement:$ Cash on Cash Return:3 %
Other Income:0 
a. Effective Gross Income, Annualy: $ 159,947 
  Annual ExpensesAnalytical Calculations
Management: 3% Estimate New Buyer$ 4,789Expenses per unit:$ 6,307
Maintenance:$ 4,500Expenses per square foot:$ 5.22
Taxes: 421A Tax Abatement$ 22,180Price per unit:$ 277,778
Insurance:$ 4,500Price per square foot (building):$ 230
Heating: Gas CAM$ 3,370Price per area of land plot:$ 1,143
a. Total Annual Expenses: $ 56,763 
Annual Net Financials
c. Net Operating Income, Annually$ 103,184
d. Annual Debt Service:$ 0
e. Other Annual Capital Costs:$ 0
Pre Tax Cash Flow, Annually$ 0

Financing Information

This Loan is Proposed
Principal:$ 1,250,000
Interest Rate:3.25 %
Loan Amortization:30 Years
Loan Term:5 Years
Annual Debt Service:$ 65,281
Description:3.25% FIXED FOR 5+5+5+5+5+5 YEARS WITH 30 YEAR AMORTIZATION SCHEDULE. Rates subject to change until rate locked

Tenant Information

Tenant NameLease End (i.e. mm/dd/yyyy)square feet
Lease and Escalation:

Property Attachments

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Bellissimo Little Italy


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ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing