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Robert Lumaj Acquires Development Site At 1840 Washington Avenue From Daniel Gabay For $2.13M

Property Image
SOLD
$2,128,650
Mitchel Flaherty
Brian Whelan
Jonathan Auerbach

New York

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Development Site27,396 SF
Sold 09/25/2024
the dealplayerscompscontact
Property Image
SOLD

Robert Lumaj Acquires Development Site At 1840 Washington Avenue From Daniel Gabay For $2.13M

1840 Washington Avenue

See Similar Deals
Development Site27,396 SF
Sold 09/25/2024
Mitchel Flaherty
Brian Whelan
Jonathan Auerbach
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$77
Total Square Footage:27,396 SF
Transaction Type:Sale

The property asset involved in this transaction is a development site located at 1840 Washington Avenue in the Bronx. The sale price for this site was $2,128,650, with a total square footage of 27,396 and a price per square foot of $77.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,128,650
  • Buyer: Robert Lumaj
  • Seller: Daniel Gabay
  • Address: 1840 Washington Avenue
  • Market: Bronx
  • Square Footage: 27,396
  • Price per Square Foot: $77
  • Brokers: Mitchel Flaherty, Brian Whelan & Jonathan Auerbach - Ripco

This transaction was facilitated by the brokerage team of Mitchel Flaherty, Brian Whelan, and Jonathan Auerbach, who represent the buyer and seller in the deal. The collaboration of these individuals played a crucial role in executing the successful sale of the development site.

Players

Brian Whelan
Ripco
Brian Whelan
30 deals$137M volume(646) 933-2641
BROKER
Mitchel Flaherty
Ripco
Mitchel Flaherty
32 deals$172.7M volume(646) 933-2642
BROKER
Jonathan Auerbach
Ripco
Jonathan Auerbach
14 deals$55.2M volume(516) 902-3188
BROKER

Details

SOLD
IMAGE: Brian Whelan, Mitchel Flaherty & Jonathan Auerbach DATE: 09/25/2024 ADDRESS: 1840 Washington Avenue MARKET: Bronx ASSET TYPE: Development Site BUYER: Robert Lumaj SELLER: Daniel Gabay BROKERS: Mitchel Flaherty (@TheBritintheBronx), Brian Whelan (@BM_Whelan) & Jonathan Auerbach (@TheBrokerBrunch) - Ripco (@RipcoRealEstate) SALE PRICE: $2,128,650 SF: 27,396 ~ PPSF: $77

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

$113,527.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,562.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,090.89
Annual Debt Service$121,090.64