CW Realty Acquires Bayonne Development Site For $8M
63-85 West 23rd Street, Bayonne, NJ, USA
$8,000,000
$61/SF
Building Size
130,000 SF
Asset Type
Development Site
Closing
Nov 10, 2021
AI
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.
Bayonne Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93