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2970 3rd Avenue, Bronx, NY ...

Northwind Group Provides $6M Loan For Development Site In South Bronx - Uri Mermelstein & Joseph Yushuvayev's Top Rock Holdings The Landlord
FINANCEDDevelopment Site

Northwind Group Provides $6M Loan For Development Site In South Bronx - Uri Mermelstein & Joseph Yushuvayev's Top Rock Holdings The Landlord

2970 3rd Avenue, Bronx, NY 10455

$6,000,000

$49/SF

Building Size

120,764 SF

Asset Type

Development Site

Closing

Aug 27, 2021

AI

A development site located at 2970 Third Avenue in the South Bronx has been involved in a closed transaction. The property, with a building square footage (BSF) of 120,764, was the subject of the deal.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Date: 08/27/2021
  • Address: 2970 Third Avenue
  • Market: South Bronx
  • BSF: 120,764

The lender for this transaction was the Northwind Group, represented by Gabriel Hamani and Ran Eliasaf. The loan amount for the deal was $6,000,000. The landlord of the property is Top Rock Holdings, with Uri Mermelstein and Joseph Yushuvayev as the representatives. Avihu Kadosh served as the broker in the transaction.

If you have any opportunities related to this transaction, please contact [email protected].

Players

Avihu Kadosh

Broker

$6M

vol

1 deal

Broker
Northwind Group
Northwind GroupLender

Uri Mermelstein

Top Rock Holdings

Landlord

$170M

vol

13 deals

Landlord

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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93