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Arnav 188 LLC Acquires Development Site In Mott Haven, Bronx For $11M

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SOLD
$11,000,000

New York

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Development Site738,780 SF
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SOLD

Arnav 188 LLC Acquires Development Site In Mott Haven, Bronx For $11M

188 E 135th St, The Bronx, NY 10451, USA

See Similar Deals
Development Site738,780 SF
Sold
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$14
Total Square Footage:738780 SF
Transaction Type:Sale

An development site located at 188 East 135th Street in the Bronx neighborhood of Mott Haven has been sold for $11,000,000. The property spans 73,878 square feet and has a price per buildable square foot (PPBSF) of $148. The transaction was completed by buyer Arnav 188 LLC, represented by Mordechai Hirsch, and seller GAD Holding Corp., represented by Domenic Mariani.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $11,000,000
  • Address: 188 East 135th Street
  • Market: Mott Haven, Bronx
  • BSF: 73,878
  • PPBSF: $148
  • Seller: GAD Holding Corp. – Domenic Mariani
  • Buyer: Arnav 188 LLC – Mordechai Hirsch
  • Brokers: Joshua Agosto, Yagnesh Vangala @XRE.NY

The sale of this development site was facilitated by brokers Joshua Agosto and Yagnesh Vangala from XRE.NY. The deal brings together key individuals and companies, showcasing the collaborative efforts of the buyer and seller represented by their respective brokers.

Players

1 deal$11M volume
BROKER

Details

SOLD
IMAGE: Joshua Agosto and Yagnesh Vangala DATE: 11/30/2018 ADDRESS: 188 East 135th Street MARKET: Mott Haven, Bronx ASSET TYPE: Development Site SALE PRICE: $11,000,000 BSF: 73,878 PPBSF: $148 SELLER: GAD Holding Corp. – Domenic Mariani BUYER: Arnav 188 LLC – Mordechai Hirsch BROKERS: Joshua Agosto, Yagnesh Vangala @XRE.NY

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

$586,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34