Updated Oct 29, 2024
AL Kolenovic Acquires Development Site In Parkchester For $540,000
1347 Commonwealth Ave, The Bronx, NY, USA
$540,000
$90/SF
Building Size
6,000 SF
Asset Type
Development Site
Closing
Mar 3, 2021
About this deal
AI
A development site located at 1347-1349 Commonwealth Ave. in Parkchester has been sold. The property was sold on March 4, 2021. The transaction involved a buyer named AL Kolenovic, who is associated with AK Development Corp and AK Premier Contracting. The seller of the property was Hena Chan. The property was listed for $650,000 and was sold for $540,000. This development site has a building square footage (BSF) of 6,000 and a price per building square footage (PPBSF) of $90.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $540,000
- Address: 1347-1349 Commonwealth Ave.
- Market: Parkchester
AL Kolenovic, the buyer, represents AK Development Corp and AK Premier Contracting in this deal. Hena Chan was the seller of the property.
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
29.38%
Cash-on-Cash
-8.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93