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Zev Mayer Acquires Development Site At 20 And 22 Mount Hope Place For $4.6M
SOLD
$4,600,000
New York
See Similar DealsDevelopment Site
Sold 02/11/2026
SOLD
Zev Mayer Acquires Development Site At 20 And 22 Mount Hope Place For $4.6M
22 Mount Hope Place & 20 Mount Hope Place
See Similar DealsDevelopment Site
Sold 02/11/2026
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 22 Mount Hope Place and 20 Mount Hope Place in the Mt Hope section of the Bronx. The two adjacent parcels were sold for a combined total of $4,600,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,600,000
- Buyer: Zev Mayer
- Address: 22 Mount Hope Place & 20 Mount Hope Place
- Market: Mt Hope, Bronx
The buyer, Zev Mayer, acquired the two parcels as part of a strategy to assemble a development site. Grun Group is planning a project that will consist of 99 rental units on this site.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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