Updated Oct 29, 2024
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
$3,400,000
$72/SF
Building Size
46,630 SF
Asset Type
Development Site
Closing
Mar 23, 2023
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93