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The Lulaj Family Acquires Development Site In Allerton, Bronx For $2.45M

Property Image
SOLD
$2,450,000
Jacob Harooni

New York

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Development Site36,207 SF
Sold 11/08/2021
the dealplayerscompscontact
Property Image
SOLD

The Lulaj Family Acquires Development Site In Allerton, Bronx For $2.45M

2311 White Plains Road, East Bronx, Bronx, NY, USA

See Similar Deals
Development Site36,207 SF
Sold 11/08/2021
Jacob Harooni
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$67
Total Square Footage:36,207 SF
Transaction Type:Sale

A development site located at 2301-2311 White Plains Rd in Allerton, Bronx has been sold for a price of $2,450,000. The property has a lot size of 83 ft x 158 ft, with a building square footage (BSF) of 36,207. The price per buildable square foot (PPBSF) is $65. The transaction took place on 11/08/2021.

Summary of transaction details:

  • Property Type: Development site 🏗
  • Transaction Amount: $2,450,000
  • Address: 2301-2311 White Plains Rd, Allerton, Bronx
  • Market: Allerton, Bronx
  • Buyer: The Lulaj Family
  • Seller: The Franzblau Family
  • Brokers: Roni Soleimani & Jacob Harooni - SP Capital Group

Roni Soleimani and Jacob Harooni from SP Capital Group represented the buyer and seller in this deal. This transaction marks SP Capital's second deal of the week. For those interested in purchasing or selling similar assets in the Boroughs, you can reach out to Roni Soleimani at (212) 235-2764 or [email protected], or Jacob Harooni at (212) 343-3042 or [email protected].

Players

Jacob Harooni
10 deals$52.1M volume(212) 343-3042
BROKER

Roni Soleimani
SP Capital Group
20 deals$92.4M volume
BROKER

Details

SOLD
IMAGE: Jacob Harooni DATE: 11/08/2021 ADDRESS: 2301-2311 White Plains Rd MARKET: Allerton, Bronx ASSET TYPE: Development site 🏗 BUYER: The Lulaj Family (@florio_l) SELLER: The Franzblau Family BROKERS: Roni Soleimani (@realronisoleimani) & Jacob Harooni (@JacobHarooni) - SP Capital Group (@SPCapitalGroup) SALE PRICE: $2,450,000 BSF: 36,207 ~ PPBSF: $65 LOT SIZE: 83 ft x 158 ft NOTE FROM @SPCapitalGroup: This deal marks SP Capital’s second deal of the week. If you are looking to purchase or sell similar assets in the Boroughs, please reach out to: 👤 Roni Soleimani 📱 (212) 235-2764 📧 [email protected] 👤 Jacob Harooni 📱 (212) 343- 3042 📧 [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$130,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00