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2260 Morris Avenue

Tomer Vaknin Purchases Development Site At 2260 Morris Avenue Bronx For $3.375M
SOLDDevelopment Site

Tomer Vaknin Purchases Development Site At 2260 Morris Avenue Bronx For $3.375M

2260 Morris Avenue

$3,375,000

$556/SF

Building Size

6,068 SF

Asset Type

Development Site

Closing

Jan 3, 2025

AI

The transaction involves a development site located at 2260 Morris Avenue in the Bronx market. The sale price was $3,375,000, with a built square footage (BSF) of 36,710 and a price per built square foot (PPBSF) of $91. The property has a total square footage (SF) of 6,068 and a price per square foot (PPSF) of $556.

Summary of transaction details:

Giancarlo Cugini and Karl Brumback represent JLL in this transaction. The deal involves a transfer of ownership from RW Real Estate Group to Tomer Vaknin, highlighting the involvement of these professionals in facilitating the agreement between the buyer and seller.

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

4.70%

Cash-on-Cash

-1.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93