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212 West 231st Street

Steve Zervoudis Of Galaxy Construction Acquires Development Site In Bronx For $2.95M
SOLDDevelopment Site

Steve Zervoudis Of Galaxy Construction Acquires Development Site In Bronx For $2.95M

212 West 231st Street

$2,950,000

$368/SF

Building Size

8,000 SF

Asset Type

Development Site

Closing

Aug 29, 2024

AI

The property involved in this transaction is a development site situated at 212 West 231st Street in the Bronx. The sale price for the asset was $2,950,000, with a building square footage (BSF) of 24,000, translating to a price per building square foot (PPBSF) of $122. Additionally, the site has a total square footage (SF) of 8,000, resulting in a price per square foot (PPSF) of $368.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,950,000
  • Address: 212 West 231st Street
  • Market: Bronx
  • Building Square Footage: 24,000
  • Price per Building Square Foot: $122
  • Total Square Footage: 8,000
  • Price per Square Foot: $368
  • Buyer: Steve Zervoudis - Galaxy Construction
  • Seller: Kristen Hackett - S.H. Moore Holdings
  • Brokers: Giancarlo Cugini & Karl Brumback - JLL

This transaction highlights the roles of the key individuals involved, with Steve Zervoudis representing Galaxy Construction as the buyer and Kristen Hackett representing S.H. Moore Holdings as the seller. The brokers facilitating the deal are Giancarlo Cugini and Karl Brumback from JLL, playing a crucial role in the successful completion of this property transaction.

Players

Karl Brumback

JLL

Broker

$388.3M

vol

25 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

5.38%

Cash-on-Cash

-1.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93