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Gjek Popaj Acquires Development Site In Bronx For $2.1M With Broker Adam Traub

Property Image
SOLD
$2,100,000
Adam Traub
GP

New York

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Development Site35,292 SF
Sold 08/13/2020
the dealplayerscompscontact
Property Image
SOLD

Gjek Popaj Acquires Development Site In Bronx For $2.1M With Broker Adam Traub

113 East 184th Street, Bronx, NY 10468

See Similar Deals
Development Site35,292 SF
Sold 08/13/2020
Adam Traub
GP
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$59
Total Square Footage:35,292 SF
Transaction Type:Sale

A development site located at 113 East 184th Street in the Bronx has been sold for a price of $2,100,000. The off-market transaction was negotiated and closed within an impressive timeframe of less than 30 days, despite the challenges posed by the COVID-19 pandemic. The property spans a total square footage of 35,292 and is situated in a highly sought-after market.

Summary of transaction details

  • Property Type: Development site
  • Transaction Amount: $2,100,000
  • Buyer: Gjek Popaj
  • Seller: Jason Xie
  • Broker: Adam Traub - Curbcap
  • Market: Bronx

Adam Traub of Curbcap played a pivotal role as the broker in facilitating the successful sale of this development site. For any interested parties, please feel free to contact Adam Traub at [email protected] to gain access to aggressive and motivated investors eager to explore similar opportunities.

Players

Adam Traub
Adam Traub
15 deals$68.9M volume
BROKER
GP
Gjek Popaj
3 deals$8M volume
BUYER

Details

SOLD
IMAGE: Adam Traub DATE: 08/13/2020 ADDRESS: 113 East 184th Street MARKET: Bronx ASSET TYPE: Development site BUYER: Gjek Popaj SELLER: Jason Xie BROKER: Adam Traub SALE PRICE: $2,100,000 BSF: 35,292 ~ PPBSF: $60 NOTE: Off-market development site negotiated and closed in less than 30 days in the midst of COVID-19. Contact [email protected] to gain access to aggressive and motivated investors.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$112,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
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