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:
- Property Type: Development Site
- Transaction Amount: $7,905,000
- Address: 2111 White Plains Road
- Market: Bronx
- Total Square Footage: 80,000
- Price per Square Foot: $98
- Price per Buildable Square Foot: $98
- Buyer: Robert Lumaj
- Seller: Jonathan Sopher
- Brokers: Alexandre Goulet, Magdalena Denisiuk & Anand Melwani - Landair Property Advisors
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
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