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2066 Anthony Ave, The Bronx...

Arben Mitaj Acquires Bronx Development Site At 2066-2070 Anthony Ave For $2.995M
SOLDDevelopment Site

Arben Mitaj Acquires Bronx Development Site At 2066-2070 Anthony Ave For $2.995M

2066 Anthony Ave, The Bronx, NY 10457, USA

$1,150,000

$2/SF

Building Size

455,210 SF

Asset Type

Development Site

Closing

Sep 2, 2020

AI

A development site located at 2066-2070 Anthony Ave in Bronx has recently been sold in a closed transaction. The property, zoned as R8, offers potential for development. The deal was facilitated by Ronald Alexander Echavarria, a broker specializing in investment and residential sales. The property was sold for a sale price of $2,995,000, slightly below the asking price of $3,000,000. The site has a buildable square footage (BSF) of 45,521, resulting in a price per buildable square footage (PPBSF) of $65.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $2,995,000
  • Address: 2066-2070 Anthony Ave, Bronx
  • Market: Bronx
  • Zoning: R8

Arben Mitaj acquired the property as the buyer in this transaction. The sellers of the development site were Barbara Valdez, Flora Burgos, and Hector Matos. Ronald Alexander Echavarria acted as the broker representative in this deal. It's worth noting that the broker specializes in investment and residential sales.

Players

Ronald Alexander Echavarria

Re/Max

Broker

$8.2M

vol

4 deals

Broker

Arben Mitaj

Buyer

$38.2M

vol

4 deals

Buyer

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93