Updated Dec 21, 2023
Prakashkumar Patel Acquires Development Site On Jerome Avenue In Bronx For $3M
1665 Jerome Ave, The Bronx, NY 10453, USA
$3,000,000
$150/SF
Building Size
20,000 SF
Asset Type
Development Site
Closing
Sep 16, 2019
About this deal
AI
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.
On the Map
$3,000,000
$150/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93