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1975 Honeywell Avenue, The ...

Alex Korol Sells Development Site In West Farms, Bronx For $2.12M With Brokers Jason Gold, Daniel Mahfar, And Lawrence Sarn - Ariel Property Advisors
SOLDDevelopment Site

Alex Korol Sells Development Site In West Farms, Bronx For $2.12M With Brokers Jason Gold, Daniel Mahfar, And Lawrence Sarn - Ariel Property Advisors

1975 Honeywell Avenue, The Bronx, New York 10460, United States

$2,125,000

$71/SF

Building Size

29,770 SF

Asset Type

Development Site

Closing

Dec 29, 2021

AI

Located in West Farms, Bronx, the development site at 1975 Honeywell Avenue has been sold in a recent transaction. The property is characterized as a development site with a zoning classification of R7-1. The lot dimensions measure 91.44 feet by 95 feet, offering ample space for potential development.

Summary of transaction details:

  • Property Type: Development Site
  • Sale Price: $2,125,000
  • Building Square Footage (BSF): 29,770
  • Price per Building Square Foot (PPBSF): $71
  • Address: 1975 Honeywell Avenue
  • Market: West Farms, Bronx

The sale of this property was facilitated by the team of brokers consisting of Jason Gold, Daniel Mahfar, and Lawrence Sarn from Ariel Property Advisors. Their expertise and representation contributed to the successful completion of the transaction.

Players

Daniel Mahfar

Ariel Property Advisors

Broker

$753M

vol

42 deals

Broker

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

7.46%

Cash-on-Cash

-2.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93