Arben Mitaj Acquires Bronx Development Site At 2066-2070 Anthony Ave For $2.995M
SOLD
$1,150,000
New York
See Similar DealsDevelopment Site455,210 SF
Sold 09/03/2020
SOLD
Arben Mitaj Acquires Bronx Development Site At 2066-2070 Anthony Ave For $2.995M
2066 Anthony Ave, The Bronx, NY 10457, USA
See Similar DealsDevelopment Site455,210 SF
Sold 09/03/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$2
Total Square Footage:455,210 SF
Transaction Type:Sale
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.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04
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