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113 East 184th Street, Bron...

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

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

113 East 184th Street, Bronx, NY 10468

$2,100,000

$59/SF

Building Size

35,292 SF

Asset Type

Development Site

Closing

Aug 12, 2020

AI

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

Broker

$68.9M

vol

15 deals

Broker

Gjek Popaj

Buyer

$8M

vol

3 deals

Buyer

New York 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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93