Updated Oct 29, 2024
Mendy Tessler Acquires Development Site On Ogden Avenue In Bronx For $1M
1012 Ogden Avenue
$1,000,000
$285/SF
Building Size
3,500 SF
Asset Type
Development Site
Closing
Mar 30, 2023
About this deal
AI
The development site located at 1012 Ogden Avenue in Bronx has been sold in a recent transaction. The property spans 3,500 square feet and was sold for a price of $1,000,000, resulting in a price per square foot of $286. The total buildable square footage of the site is 12,040, leading to a price per buildable square foot of $83.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,000,000
- Address: 1012 Ogden Avenue
- Market: Bronx
- Square Footage: 3,500
- Price per Square Foot: $286
- Total Buildable Square Footage: 12,040
- Price per Buildable Square Foot: $83
The buyer in this transaction is Mendy Tessler, while the seller is The Friendly Baptist Church. Cushman & Wakefield represented the buyer in the deal, with the team consisting of Joshua Neustadter, Austin Weiner, Jonathan Squires, Daniel Abbondandolo, and Rob Cullen.
On the Map
$1,000,000
$285/SF
Development Site
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Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93