Updated Oct 29, 2024
ADAPT Community Network Acquires Development Site In Morris Heights, Bronx For $3.95M
1746 Andrews Avenue South, Bronx, NY 10453
$3,950,000
$52/SF
Building Size
75,000 SF
Asset Type
Development Site
Closing
Mar 12, 2019
About this deal
AI
Located in Morris Heights, Bronx, this development site at 1746 Andrews Avenue has been sold in a recent transaction. The property was sold by Andrews Dev Corp to ADAPT Community Network.
Summary of transaction details:
- Property Type: Development Site
- Date: 03/13/2019
- Seller: Andrews Dev Corp
- Buyer: ADAPT Community Network
- Brokers: Josh Goldflam, Lou Corti, Guy Vardi, Andrew Tamayo - Highcap Group
- Sale Price: $3,950,000
- BSF: 75,000
- PPBSF: $52
The deal was facilitated by brokers from Highcap Group, namely Josh Goldflam, Lou Corti, Guy Vardi, and Andrew Tamayo. They represented both the buyer and the seller in the transaction, working to ensure a successful deal.
On the Map
$3,950,000
$52/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.02%
Cash-on-Cash
-1.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93