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Aron Karpen's 130 E 165 Holdings LLC Acquires Development Site In Concourse, Bronx For $3.4M
SOLD
$3,400,000
New York
See Similar DealsDevelopment Site46,630 SF
Sold 03/24/2023
SOLD
Aron Karpen's 130 E 165 Holdings LLC Acquires Development Site In Concourse, Bronx For $3.4M
130 E 165th St, Bronx, NY 10452, USA
See Similar DealsDevelopment Site46,630 SF
Sold 03/24/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$72
Total Square Footage:46,630 SF
Transaction Type:Sale
Aron Karpen's 130 E 165 Holdings LLC has acquired a development site located at 130 East 165th Street in Concourse, Bronx. The site, with a potential buildable square footage (BSF) of 46,630, was purchased from the estate of Barry Kallenberg for a total sale price of $3,400,000. The property, currently consisting of zero square feet of built space, also includes 46,630 square feet of additional air rights.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,400,000
- Address: 130 East 165th Street, Concourse, Bronx
- Market: Concourse, Bronx
- Buyer: Aron Karpen
- Seller: Barry Kallenberg Estate - Wendy Berger & Lisa Lux
The buyer, Aron Karpen, represents 130 E 165 Holdings LLC in this transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$181,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82
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