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1288 Southern Boulevard

Abe Kayme Acquires Development Site On Southern Boulevard In Bronx For $1.375M
SOLDDevelopment Site

Abe Kayme Acquires Development Site On Southern Boulevard In Bronx For $1.375M

1288 Southern Boulevard

$1,375,000

Building Size

Asset Type

Development Site

Closing

Jan 26, 2023

AI

A development site located at 1288 Southern Boulevard in the Bronx has been sold for a total price of $1,375,000. The property spans a total of 4,859 square feet, resulting in a price per square foot of $283. The building size is 19,500 square feet, equating to a price per buildable square foot of $71. The transaction took place on January 26, 2023.

Summary of Transaction Details

  • Property Type: Development Site
  • Transaction Amount: $1,375,000
  • Address: 1288 Southern Boulevard, Bronx
  • Market: Bronx
  • Buyer: Abe Kayme
  • Seller: Joe Djemal
  • Broker: David Simone - Concourse Realty

David Simone from Concourse Realty represented the buyer and seller in this deal, acting as the broker. This successful transaction emphasizes the value and potential of the development site.

Players

David Simone

Concourse Realty

Broker

$143.1M

vol

25 deals

Broker

Market 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

11.54%

Cash-on-Cash

-3.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93