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2434 Walton Ave

Ian Axelrod Purchases Development Site At 2434 Walton Ave Bronx For $1.2M From Ira Burnstein
SOLDDevelopment Site

Ian Axelrod Purchases Development Site At 2434 Walton Ave Bronx For $1.2M From Ira Burnstein

2434 Walton Ave & 2436 Walton Ave

$1,200,000

Building Size

Asset Type

Development Site

Closing

Jan 9, 2020

AI

The asset involved in this transaction is a development site located at 2434 Walton Ave in the Bronx. The property was sold for $1,200,000.00.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,200,000.00
  • Buyer: Ian Axelrod
  • Seller: Ira Burnstein
  • Brokers: Jonathan Zarka from Lightrock Management

The transaction was facilitated by Jonathan Zarka, representing Lightrock Management, who operated as the broker in the deal. Ian Axelrod and Ira Burnstein were the key individuals representing the buyer and seller, respectively.

Players

Jonathan Zarka

Lightrock Management

Broker

$8.9M

vol

7 deals

Broker

Ian Axelrod

Buyer

$3.2M

vol

1 deal

Buyer

Ira Burnstein

Seller
Seller

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

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93