AL Kolenovic Acquires Development Site In Parkchester For $540,000
SOLD
$540,000
New York
See Similar DealsDevelopment Site6,000 SF
Sold 03/04/2021
SOLD
AL Kolenovic Acquires Development Site In Parkchester For $540,000
1347 Commonwealth Ave, The Bronx, NY, USA
See Similar DealsDevelopment Site6,000 SF
Sold 03/04/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$90
Total Square Footage:6,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$28,800.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,918.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,559.88
Annual Debt Service$30,718.51
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