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2111 White Plains Road

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

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

2111 White Plains Road

$7,905,000

$98/SF

Building Size

80,000 SF

Asset Type

Development Site

Closing

Aug 13, 2024

AI

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 Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker

Bronx 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

2.01%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93