Updated Apr 9, 2025
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
About this deal
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.
On the Map
$1,200,000
Development Site
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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