Daniel Ades Purchases Development Site From Gonzalo Munoz In El Portal For $1.1M
585 Northwest 88th Street
$1,100,000
$25/SF
Building Size
43,496 SF
Asset Type
Development Site
Closing
Dec 5, 2024
AI
The development site located at 585 Northwest 88th Street in El Portal was sold for $1,100,000. The property encompasses 43,496 square feet, with a price per square foot of $25.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,100,000
- Address: 585 Northwest 88th Street
- Market: El Portal
- Square Footage: 43,496
- Price Per Square Foot: $25
- Buyer: Daniel Ades
- Seller: Gonzalo Munoz
- Broker Representatives: Jamie Rose Maniscalco & Steffanie Jacobson - The Alpha Commercial
Daniel Ades acquired the property from seller Gonzalo Munoz, facilitated by brokers Jamie Rose Maniscalco and Steffanie Jacobson from The Alpha Commercial.
Players
El Portal Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93