Red Starr Investments & Haymax Capital Sell White Plains Development Site For $3.5M
SOLD
$3,525,000
New York
See Similar DealsDevelopment Site60,000 SF
Sold
SOLD
Red Starr Investments & Haymax Capital Sell White Plains Development Site For $3.5M
136 Westmoreland Avenue, Syracuse, NY 13224
See Similar DealsDevelopment Site60,000 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$58
Total Square Footage:60000 SF
Transaction Type:Sale
A development site located at 136-158 Westmoreland Ave. in White Plains has been sold for a total price of $3,525,000. The property, which includes an approved site plan for a 62 unit mixed-use development, offers a total BSF (Buildable Square Feet) of 60,000 and a PPBSF (Purchase Price per Buildable Square Feet) rate of $58. The transaction involved the buyer, whose identity has not been disclosed, and the sellers, Red Starr Investments and Haymax Capital.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $3,525,000
- Address: 136-158 Westmoreland Ave., White Plains
- Market: White Plains
- BSF: 60,000
- PPBSF: $58
- Units: 62
The deal was facilitated by brokers Christopher Gillis and Marion Jones of Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$187,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,523.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,710.30
Annual Debt Service$200,523.58
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