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2109 Tiebout Ave, The Bronx...

Asher Leeman Of Timberline Management Acquires Development Site In Fordham, Bronx
SOLDDevelopment Site

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

Jonathan Bichoupan

Westbridge Realty Group

Broker

$29.9M

vol

9 deals

Broker

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

27.12%

Cash-on-Cash

-7.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93