Stagg Group Acquires Development Site In High Bridge, Bronx For $6.1M
1245-1249 Edward L. Grant Hwy, High Bridge
$6,100,000
$69/SF
Building Size
87,975 SF
Asset Type
Development Site
Closing
Dec 2, 2020
AI
The development site located at 1245-1249 Edward L. Grant Hwy in High Bridge, Bronx has been sold for $6,100,000. This property, with a lot size of [LOT SIZE] square feet, is zoned as R9A, making it suitable for future development.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $6,100,000
- Market: High Bridge, Bronx
- Zoning: R9A
- Seller: Mark Koplowitz
- Buyer: Stagg Group
- Brokers: Roni Soleimani & Josh Pomerantz @SPCapitalGroup
The Stagg Group, headed by Mark Stagg, acquired the property from Mark Koplowitz. Roni Soleimani and Josh Pomerantz from SPCapital Group represented both parties 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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93