Larry Lugaj Acquires Development Site On Grand Avenue In University Heights, Bronx For $1.2M
2311 Grand Avenue
$1,200,000
$240/SF
Building Size
5,000 SF
Asset Type
Development Site
Closing
Oct 6, 2023
AI
A development site located at 2311 Grand Avenue in University Heights, Bronx, has been sold for $1,200,000. The property spans 5,000 square feet, resulting in a price per square foot of $240.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,200,000
- Square Footage: 5,000
- Price per Square Foot: $240
- Address: 2311 Grand Avenue, University Heights, Bronx
The buyer of the development site is Larry Lugaj, while the seller is Shree Deshmukh. The broker representing this transaction is David Simone from Concourse Realty.
Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93