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Joel Mittelman's Skyward Developers LLC Acquires Development Site In Mount Eden, Bronx For $2.64M

Property Image
SOLD
$2,645,000

New York

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Development Site29,670 SF
Sold 11/15/2021
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Property Image
SOLD

Joel Mittelman's Skyward Developers LLC Acquires Development Site In Mount Eden, Bronx For $2.64M

1436 Jesup Avenue, Bronx, NY 10452, USA

See Similar Deals
Development Site29,670 SF
Sold 11/15/2021
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$89
Total Square Footage:29,670 SF
Transaction Type:Sale

A development site located at 1436-1438-1440 Jesup Ave. in Mount Eden, Bronx has been sold for a price of $2,645,000. The property spans a total square footage of 29,670 and offers a price per buildable square foot (PPBSF) of $89.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $2,645,000
  • Address: 1436-1438-1440 Jesup Ave., Mount Eden, Bronx
  • Market: Mount Eden, Bronx
  • Buyer: Joel Mittelman - Skyward Developers LLC
  • Seller: Carlos Colon, Migdalia Fermaintt & Jesus Quiñones
  • Broker: Ronald Alexander Echavarria - RE/MAX
  • BSF: 29,670
  • PPBSF: $89

The buyer in this transaction is Joel Mittelman representing Skyward Developers LLC. The seller of the property is Carlos Colon, Migdalia Fermaintt, and Jesus Quiñones. The deal was facilitated by broker Ronald Alexander Echavarria from RE/MAX.

Players

Ronald Alexander Echavarria
Re/Max
Ronald Alexander Echavarria
4 deals$8.2M volume
BROKER

Details

SOLD
IMAGE: Ronald Alexander Echavarria DATE: 11/15/2021 ADDRESS: 1436-1438-1440 Jesup Ave. MARKET: Mount Eden, Bronx ASSET TYPE: Development Site BUYER: Joel Mittelman - Skyward Developers LLC SELLER: Carlos Colon, Migdalia Fermaintt & Jesus Quiñones BROKER: Ronald Alexander Echavarria (@RonaldAlexanderNYC) - RE/MAX SALE PRICE: $2,645,000 BSF: 29,670 ~ PPBSF: $89

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$141,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,397.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,538.65
Annual Debt Service$150,463.79