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
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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93