Updated Feb 5, 2025
Brookfield Acquires Development Site In Bronx For $96.2M
2401 Third Ave., The Bronx, NY 10451, USA
$96,200,000
$198/SF
Building Size
485,139 SF
Asset Type
Development Site
Closing
Sep 10, 2018
About this deal
AI
The development located at 2401 Third Avenue and 101 Lincoln Ave in Bronx, New York, has been involved in a closed property transaction. The property, with an address in the Bronx, was acquired by Brookfield, the landlord and developer, for a loan amount of $96,200,000 from HSBC.
Summary of transaction details
- Property Type: Development
- Transaction Amount: $96,200,000
- Lender: HSBC
- Landlord/Developer: Brookfield
The key individuals responsible for this transaction include Ric Clark, Brian Kingston, and Ben Brown. They played pivotal roles in the deal as representatives from their respective agencies.
On the Map
$96,200,000
$198/SF
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93