Asher Leeman Of Timberline Management Acquires Development Site In Fordham, Bronx
2109 Tiebout Ave, The Bronx, NY 10457, USA
$585,000
$5/SF
Building Size
99,860 SF
Asset Type
Development Site
Closing
Jun 10, 2019
AI
A development site located at 2109 Tiebout Avenue in Fordham, Bronx has been sold in a closed transaction. The property, with an asking price and sale price of $585,000, spans a total of 9,986 square feet with a price per square foot of $58.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $585,000
- Address: 2109 Tiebout Avenue, Fordham, Bronx
- Market: Fordham, Bronx
Asher Leeman of Timberline Management has acquired the property from seller Ramon Reynoso. The deal was facilitated by Menachem Babayov and Jonathan Bichoupan of Westbridge Realty Group, who represented both the buyer and seller in the transaction.
Plans for the property include adding two floors and re-positioning it in the market.
Players
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
27.12%
Cash-on-Cash
-7.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93