Steven Westreich & Jamie Bacari Acquire Development Site In The Bronx For $6.5M
810 East 170th Street & 1395 Bristow Street
Building Size
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Asset Type
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Closing
Mar 1, 2023
AI
A development site located at 810 East 170th Street and 1395 Bristow Street in The Bronx has been sold in a recent transaction. The property was purchased by Steven Westreich and Jamie Bacari for a total price of $6,500,000. The site is a development opportunity with a building square footage of 35,000 and a price per square foot of $186. The transaction also includes a buildable square footage of 60,000, resulting in a price per buildable square foot of $108.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,500,000
- Address: 810 East 170th Street & 1395 Bristow Street
- Market: The Bronx
The sale was facilitated by Mitchel Flaherty and Paul Massey, representing B6 Real Estate Advisors. They served as the brokers for the transaction, assisting the buyers, Steven Westreich and Jamie Bacari, in acquiring the property from the Kuey Family.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93