Updated Jun 26, 2025
Slate Property Group Acquires Dev Site In Fordham, Bronx For $9.045M
2308 Jerome Ave, The Bronx, NY 10468, USA
$9,045,000
$209/SF
Building Size
43,250 SF
Asset Type
Development Site
Closing
Oct 14, 2020
About this deal
AI
2308-2314 Jerome Avenue, a development site located in Fordham, Bronx, was recently sold in a closed transaction. The property, which spans 43,250 square feet, was purchased by David Schwartz and Martin Nussbaum of Slate Property Group. The sellers, Colaz Realty Co. Inc., were represented by John DeSimone.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $9,045,000
- Buyer: David Schwartz & Martin Nussbaum (Slate Property Group)
- Seller: Colaz Realty Co. Inc. - John DeSimone
- Market: Fordham, Bronx
- BSF (Buildable Square Feet): 43,250
- PPBSF (Price per Buildable Square Feet): $209
In this deal, David Schwartz and Martin Nussbaum, representing Slate Property Group, acquired the development site located at 2308-2314 Jerome Avenue in Fordham, Bronx. The sellers, Colaz Realty Co. Inc., were advised by John DeSimone.
Players
New York 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
1.75%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93