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Robert Lumaj Acquires Development Site At 2111 White Plains Road In Bronx For $7.91M

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SOLD
$7,905,000

New York

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Development Site80,000 SF
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SOLD

Robert Lumaj Acquires Development Site At 2111 White Plains Road In Bronx For $7.91M

2111 White Plains Road

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Development Site80,000 SF
Sold
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$98
Total Square Footage:80000 SF
Transaction Type:Sale

The property asset involved in this transaction is a development site located at 2111 White Plains Road in the Bronx. The sale price was $7,905,000, covering a total square footage of 80,000. The price per square foot and price per buildable square foot both amounted to $98.

Summary of transaction details:

The deal was represented by Alexandre Goulet, Magdalena Denisiuk, and Anand Melwani, who are associated with Landair Property Advisors. This team facilitated the transaction between Robert Lumaj and Jonathan Sopher, marking a significant deal for both parties involved.

Players

Alexandre (Alex) Goulet
42 deals$152.2M volume
BROKER

Anand Melwani
Landair Advisors
38 deals$153.6M volume(516) 658-1222
BROKER

Magdalena Denisiuk
Landair Advisors
2 deals$10.8M volume(929) 602-2644
BROKER

Details

SOLD
IMAGE: Alexandre Goulet, Magdalena Denisiuk & Anand Melwani DATE: 08/13/2024 ADDRESS: 2111 White Plains Road MARKET: Bronx ASSET TYPE: Development Site BUYER: Robert Lumaj SELLER: Jonathan Sopher BROKERS: Alexandre Goulet, Magdalena Denisiuk & Anand Melwani (@ArmYourself21) - Landair Property Advisors (@LandairPropertyAdvisors) SALE PRICE: $7,905,000 BSF: 80,000 ~ PPBSF: $98 SF: 80,000 ~ PPSF: $98

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$421,600.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,084.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,473.73
Annual Debt Service$449,684.80