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CW Realty Acquires Bayonne Development Site For $8M

Property Image
SOLD
$8,000,000
John R. Cupo
Cheskie Weisz

New Jersey

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Development Site130,000 SF
Sold 11/10/2021
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Property Image
SOLD

CW Realty Acquires Bayonne Development Site For $8M

63-85 West 23rd Street, Bayonne, NJ, USA

See Similar Deals
Development Site130,000 SF
Sold 11/10/2021
John R. Cupo
Cheskie Weisz
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$61
Total Square Footage:130,000 SF
Transaction Type:Sale

The property involved in this transaction is a development site located at 63-85 & 87-97 West 23rd St., Bayonne, NJ. The total sale price for this asset was $8,000,000, and it has a building size of 130,000 square feet. The price per square foot stands at $61. The zoning classification for this site is R-3, and it falls under tax class 4A.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $8,000,000
  • Building Size: 130,000 sq ft
  • Price per Square Foot: $61
  • Address: 63-85 & 87-97 West 23rd St., Bayonne, NJ
  • Zoning: R-3
  • Tax Class: 4A
  • Buyer: CW Realty - Cheskie Weisz
  • Seller: Mikhail Kapchits
  • Broker: John R. Cupo - Cupo LLC

The individuals involved in this transaction include the buyer Cheskie Weisz of CW Realty and the seller Mikhail Kapchits. The broker representing the deal was John R. Cupo from Cupo LLC, facilitating this transaction in the development site market.

Players

John R. Cupo
John R. Cupo
1 deal$8M volume
BROKER
Cheskie Weisz
CW Realty
Cheskie Weisz
17 deals$496.8M volume
BUYER

Details

SOLD
IMAGE: Cheskie Weisz & John R. Cupo DATE: 11/10/2021 ADDRESS: 63-85 & 87-97 West 23rd St. MARKET: Bayonne, NJ ASSET TYPE: Development Site ~ ZONING: R-3 BUYER: CW Realty - Cheskie Weisz SELLER: Mikhail Kapchits BROKER: John R. Cupo - Cupo LLC SALE PRICE: $8,000,000 BSF: 130,000 ~ PPBSF: $61 TAX CLASS: 4A

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
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