Updated Dec 20, 2023
Avison Young Represents Sale Of Development Site In Bronx For $4.6M
2005 Jerome Avenue
$4,600,000
$766/SF
Building Size
6,000 SF
Asset Type
Development Site
Closing
Dec 8, 2021
About this deal
AI
A development site located at 2005 Jerome Avenue in the Bronx has been sold in a closed transaction. The property is zoned as R7-1 and C4-4D,J, making it suitable for development purposes. The sale was facilitated by brokers James Nelson and Fritz Richter of Avison Young. The transaction took place on 12/08/2021.
Summary of transaction details
- Property Type: Development Site
- Address: 2005 Jerome Avenue, Bronx
- Market: Bronx
- Zoning: R7-1, C4-4D,J
- Built Square Footage: 60,200
- Price per Built Square Foot: $77
- Asking Price: $4,650,000
- Sale Price: $4,600,000
James Nelson and Fritz Richter of Avison Young provided their expertise as brokers in the transaction. Their role was to represent the parties involved in the deal and facilitate the smooth transfer of the property.
Players
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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93