Updated Jun 11, 2025
New Destiny Housing Corporation Acquires Development Site/Industrial In Bronx For $3.5M
1139 Webster Avenue
$3,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 12, 2022
About this deal
AI
The development site/industrial property located at 1139 Webster Ave in Bronx has been sold for $3,500,000. The property spans a total of 50,000 square feet, with a price per square foot of $70. The transaction took place on 07/12/2022.
Summary of transaction details
- Property Type: Development Site/Industrial
- Transaction Amount: $3,500,000
- Address: 1139 Webster Ave
- Market: Bronx
- Buyer: New Destiny Housing Corporation
- Seller: The Wolf Family
- Brokers: Jonathan Squires & Josh Neustadter - Cushman & Wakefield
- BSF: 50,000
- PPBSF: $70
The deal was facilitated by Jonathan Squires and Josh Neustadter of Cushman & Wakefield. They represented both the buyer, New Destiny Housing Corporation, and the seller, The Wolf Family, in this transaction.
Players
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93