Sophia Guevara pays $2.8M for retail in Baychester

Sophia Guevara through the entity 3000 Eastchester Road, LLC paid $2.8 million to Nadege Rihan through the entity 3000 Eastchester, LLC for retail building (K1) at 3000 Eastchester Road in Baychester, Bronx.
The deal closed on February 28, 2023 and was recorded on March 8, 2023. The property has 4,610 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $596 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on July 29, 2015, for $1.1 million. The signatory for Nadege Rihan was Nadege Rihan. The signatory for Sophia Guevara was Sophia Guevara. The contract date was October 15, 2021.

Prior sales and revenue

Prior to this transaction, PincusCo has no record that the buyer Sophia Guevara had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Nadege Rihan had not purchased any other properties and had not sold any properties over the same time period. The 4,610-square-foot property generated revenue of $179,021 or $39 per square foot, according to the most recent income and expense figures.

The property

The 3000 Eastchester Road parcel has frontage of 50 feet and is 94 feet deep with a total lot size of 4,843 square feet. The lot is irregular. The zoning is R4-1 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $787,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property since September of 2020. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $5 million on this tax lot.

The neighborhood

In Baychester, the bulk, or 39 percent of the 1.5 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 28 percent of the space. In sales, Baychester has the 36th highest sale turnover among other neighborhoods in Bronx with $23 million in sales volume in the last two years. For development, Baychester has had very little major development activity relative to other neighborhoods.It had 52,631 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 76 percent of the 25,285 square feet of built space are retail buildings, with mixed-use buildings next occupying 24 percent of the space.

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