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.
On the Map
$540,000
$90/SF
Development Site
View full map
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse New York development site sales on Traded.
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