Prakashkumar Patel Acquires Development Site On Jerome Avenue In Bronx For $3M
SOLD
$3,000,000
New York
See Similar DealsDevelopment Site20,000 SF
Sold 09/17/2019
SOLD
Prakashkumar Patel Acquires Development Site On Jerome Avenue In Bronx For $3M
1665 Jerome Ave, The Bronx, NY 10453, USA
See Similar DealsDevelopment Site20,000 SF
Sold 09/17/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$150
Total Square Footage:20,000 SF
Transaction Type:Sale
The development site located at 1665 Jerome Avenue in Bronx has been sold in a closed property transaction. The seller, Ledwin Oviedo, sold the property to the buyer, Prakashkumar Patel, for a sale price of $3,000,000. The asking price for the site was $3,500,000. The property has a building square footage (BSF) of 20,000 and a price per buildable square foot (PPBSF) of $150.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Seller: Ledwin Oviedo
- Buyer: Prakashkumar Patel
- Asking Price: $3,500,000
- BSF: 20,000
- PPBSF: $150
John Joseph Rivera from Kassin Sabbagh Realty represented the buyer, Prakashkumar Patel, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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