Moshe Friedman Acquires Development Site In Bronx From Julian Melendez For $1.3M
SOLD
$1,300,000
New York
See Similar DealsDevelopment Site6,742 SF
Sold 11/05/2020
SOLD
Moshe Friedman Acquires Development Site In Bronx From Julian Melendez For $1.3M
1384 Teller Avenue, The Bronx, NY, USA
See Similar DealsDevelopment Site6,742 SF
Sold 11/05/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$192
Total Square Footage:6,742 SF
Transaction Type:Sale
An development site located at 1384 Teller Avenue in the Bronx has been sold for $1,300,000. The property spans a lot size of 25 ft x 78.42 ft and is zoned as R7-1. The transaction took place on November 5, 2020.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,300,000
- Market: Bronx
- Address: 1384 Teller Avenue
- Zoning: R7-1
The buyer of the property is Moshe Friedman, while the seller is Julian Melendez. The transaction was facilitated by Steven Westreich and Abe Jemal of Westbridge Realty. The property was previously sold for $318,000 in October 2011. The buyer intends to convert the property from 3 units to 11 units internally. For other development opportunities, you can reach out to [email protected] or [email protected].
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$69,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96
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