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

Property Image
SOLD
$2,125,000
Lawrence Sarn
Daniel Mahfar
Jason M. Gold

New York

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Development Site29,770 SF
Sold 12/29/2021
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Property Image
SOLD

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

See Similar Deals
Development Site29,770 SF
Sold 12/29/2021
Lawrence Sarn
Daniel Mahfar
Jason M. Gold
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$71
Total Square Footage:29,770 SF
Transaction Type:Sale

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
Daniel Mahfar
42 deals$753M volume
BROKER
Jason M. Gold
Ariel Property Advisors
Jason M. Gold
59 deals$1B volume
BROKER
Lawrence Sarn
Ariel Property Advisors
Lawrence Sarn
9 deals$129.7M volume
BROKER

Details

SOLD
IMAGE: Daniel Mahfar, Jason Gold & Lawrence Sarn DATE: 12/29/2021 ADDRESS: 1975 Honeywell Avenue MARKET: West Farms, Bronx ASSET TYPE: Development Site ~ ZONING: R7-1 SELLER: Alex Korol BROKERS: Jason Gold (@JGold_Real_Estate), Daniel Mahfar (@DMahfar_Real_Estate) & Lawrence Sarn - Ariel Property Advisors (@ArielPA.NYC) SALE PRICE: $2,125,000 BSF: 29,770 ~ PPBSF: $71 LOT DIMENSIONS: 91.44 ft x 95 ft

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

$113,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,549.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,073.58
Annual Debt Service$120,883.01