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1331 Jerome Ave, The Bronx,...

Updated Oct 29, 2024

Peter Fine Acquires DevSite In Bronx From Drinks Galore For $11.1M
SOLDDevelopment Site

Peter Fine Acquires DevSite In Bronx From Drinks Galore For $11.1M

1331 Jerome Ave, The Bronx, NY 10452, USA & 1331 Jerome Ave, The Bronx, NY 10452, USA

Building Size

25,000 SF

Asset Type

Development Site

Closing

May 9, 2018

About this deal

AI

David Simone, David Kalish, and John Ciraulo were involved in a closed transaction in Bronx, New York. The property involved in the transaction is a development site located at 1331 Jerome Avenue. The lot size of the property is 25,000 square feet, and it was sold for a price of $11,100,000, resulting in a price per square foot of $444.

Summary of transation details

  • Property Type: DevSite
  • Transaction Amount: $11,100,000
  • Lot Size: 25,000 sf
  • Price per Square Foot: $444
  • Seller: Drinks Galore – Jeff Friedman
  • Buyer: Peter Fine
  • BROKERS: Concourse Realty – David Simone, David Kalish, and Cushman Wakefield – John Ciraulo

The seller of the property was Drinks Galore, represented by Jeff Friedman. The buyer in this transaction is Peter Fine. The brokers involved in this deal are David Simone and David Kalish from Concourse Realty, along with John Ciraulo from Cushman Wakefield.

Players

John Ciraulo

Cushman & Wakefield

Broker

$753.5M

vol

49 deals

Broker
Peter Fine

Peter Fine

Buyer

$477.2M

vol

20 deals

Buyer

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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