Updated Oct 29, 2024
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
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