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Robert Lumaj Purchases Development Site At 1779 West Farms Road Bronx For $3.65M

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SOLD
$3,650,000

New York

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Development Site
Sold 12/10/2024
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Property Image
SOLD

Robert Lumaj Purchases Development Site At 1779 West Farms Road Bronx For $3.65M

1779 West Farms Road

See Similar Deals
Development Site
Sold 12/10/2024
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

The property asset involved in this transaction is a development site located at 1779 West Farms Road in the Bronx. The sale price for this asset was $3,650,000, and it has a building square footage of 45,000, resulting in a price per building square foot of $81.

Summary of transaction details:

The deal's key individuals include the buyer, Robert Lumaj, and the seller, BNS Real Estate. The transaction was facilitated by brokers Jonathan Squires, Joshua Neustadter, and Austin Weiner, all associated with Cushman & Wakefield, who represented their respective parties in the deal.

Players

Josh Neustadter
60 deals$545.5M volume(212) 660-7739
BROKER

Jonathan Squires
Cushman & Wakefield
93 deals$712.3M volume(917) 445-0022
BROKER

Austin Weiner
Cushman & Wakefield
37 deals$281.6M volume
BROKER

Details

SOLD
IMAGE: Joshua Neustadter, Jonathan Squires & Austin Weiner DATE: 12/10/2024 ADDRESS: 1779 West Farms Road MARKET: Bronx ASSET TYPE: Development Site BUYER: Robert Lumaj SELLER: BNS Real Estate BROKERS: Jonathan Squires, Joshua Neustadter (@Josh_Neust) & Austin Weiner (@AustinWeiner) - Cushman & Wakefield (@CushWake) SALE PRICE: $3,650,000 BSF: 45,000 ~ PPBSF: $81

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

$194,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,967.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,302.86
Annual Debt Service$207,634.35