Stagg Group Acquires Development Site In High Bridge, Bronx For $6.1M
SOLD
$6,100,000
New York
See Similar DealsDevelopment Site87,975 SF
Sold 12/03/2020
SOLD
Stagg Group Acquires Development Site In High Bridge, Bronx For $6.1M
1245-1249 Edward L. Grant Hwy, High Bridge
See Similar DealsDevelopment Site87,975 SF
Sold 12/03/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$69
Total Square Footage:87,975 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34
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