SKF Development Acquires Bronx Development Site For $2.9M
1771 Weeks Avenue, Bronx, NY 10457, USA
$2,900,000
$31,521/SF
Building Size
92 SF
Asset Type
Development Site
Closing
May 25, 2020
AI
SKF Development has acquired a development site in Bronx, located at 1771-1773 Weeks Avenue. The property is a development site that consists of 59 units. The transaction took place on 05/25/2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,900,000
- Address: 1771-1773 Weeks Avenue, Bronx
- Market: Bronx
- Units: 59
SKF Development was represented by Steven Westreich from Westbridge Realty Group. The seller, Stephen Devardo, was represented by Isaac Shrem, also from Westbridge Realty Group. The previous sale price for the property was $740,000 in August 2017.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93