RXR Realty Acquires Development Site In Mott Haven For $34.5M
2413 3rd Avenue, Bronx, NY 10451
$34,490,619
$193/SF
Building Size
178,694 SF
Asset Type
Development Site
Closing
Mar 17, 2020
AI
A development site located at 2413 3rd Ave & 9 Bruckner Blvd in Mott Haven, has been sold for a total price of $34,490,619. The property was sold on 03/18/2020. The buyer of the development site is RXR Realty, while the seller is Keith Rubenstein of Somerset Partners. The transaction was facilitated by Daniel Fromm of Newmark Knight Frank, acting as the broker.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $34,490,619
- Address: 2413 3rd Ave & 9 Bruckner Blvd
- Market: Mott Haven
The transaction involved key individuals and companies in the real estate industry. Keith Rubenstein, the seller, is a prominent figure in Somerset Partners. On the other hand, RXR Realty, the buyer, is an established real estate company. The deal was brokered by Daniel Fromm of Newmark Knight Frank.
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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93