Altmark Group & Artimus Construction Acquire Development Site At 126-130 Bruckner Boulevard, Mott Haven, Port Morris For $8M
126 Bruckner Blvd, The Bronx, NY 10454, USA
$8,000,000
$8/SF
Building Size
910,000 SF
Asset Type
Development Site
Closing
Mar 4, 2020
AI
Located at 126-130 Bruckner Boulevard, this development site in Mott Haven, Port Morris recently closed for a price of $8,000,000. The site spans a total buildable area of 91,000 square feet, resulting in a price per buildable square foot (PPBSF) of $88. The property is zoned as M1-5/R8A/MX-1, providing flexibility for future development plans.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,000,000
- Buildable Square Feet: 91,000
- Price per Buildable Square Foot (PPBSF): $88
- Address: 126-130 Bruckner Boulevard
- Market: Mott Haven, Port Morris
- Zoning: M1-5/R8A/MX-1
The buyers involved in this transaction are @AltmarkGroup and Artimus Construction. Their expertise and experience make them well-suited to take on the future development of this site, leveraging its prime location and development potential. Notably, the site is currently leased by Speedway, offering a steady income stream for the buyers.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93