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SKF Development Acquires Development Site From BX Capital For $5.5 Million In Fordham

Property Image
SOLD
$5,500,000
Marc Sitt
Ceasar Salama

New York

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Development Site70,000 SF
Sold 12/11/2024
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Property Image
SOLD

SKF Development Acquires Development Site From BX Capital For $5.5 Million In Fordham

2055 Ryer Avenue

See Similar Deals
Development Site70,000 SF
Sold 12/11/2024
Marc Sitt
Ceasar Salama
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$78
Total Square Footage:70,000 SF
Transaction Type:Sale

The sale involves a development site located at 2055, 2057 & 2059 Ryer Avenue in the Fordham market. The transaction was closed at a price of $5,500,000, encompassing a total square footage of 70,000, which results in a price per square foot of $78.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $5,500,000
  • Address: 2055, 2057 & 2059 Ryer Avenue
  • Market: Fordham
  • Square Footage: 70,000
  • Price Per Square Foot: $78
  • Buyer: SKF Development
  • Seller: BX Capital
  • Broker Representatives: Ceasar Salama & Marc Sitt - KSR

The brokers representing the deal are Ceasar Salama and Marc Sitt from KSR, who facilitated the transaction between SKF Development as the buyer and BX Capital as the seller, contributing to the completion of this notable sale.

Players

Marc Sitt
Kassin Sabbagh Realty
Marc Sitt
64 deals$272.9M volume(917) 757-8863
BROKER
Ceasar Salama
Kassin Sabbagh Realty
Ceasar Salama
31 deals$374.1M volume
BROKER

Details

SOLD
IMAGE: Ceasar Salama & Marc Sitt DATE: 12/11/2024 ADDRESS: 2055, 2057 & 2059 Ryer Avenue MARKET: Fordham ASSET TYPE: Development Site BUYER: SKF Development SELLER: BX Capital BROKERS: Ceasar Salama (@C_Salama) & Marc Sitt (@Retail.Marc) - KSR (@Kassin_Sabbagh_Realty) SALE PRICE: $5,500,000 SF: 70,000 ~ PPSF: $78

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

$293,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67