2499-2501 Sedgwick Avenue Development Site Sold For $6.975M To 2499 Sedgwick Development LLC - SKF Development - Greg Roberts
2503 Sedgwick Ave #2501, The Bronx, NY 10468, USA
$6,975,000
$5/SF
Building Size
1,200,000 SF
Asset Type
Development Site
Closing
May 21, 2019
AI
The development site located at 2499-2501, 2503, and 2511 Sedgwick Avenue in Bronx has been sold in a closed transaction. The property spans a total area of 120,000 square feet and was sold for a price of $6,975,000, slightly below the asking price of $7,250,000. The sale price equates to approximately $58 per square foot.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,975,000
- Address: 2499-2501, 2503, and 2511 Sedgwick Avenue
- Market: Bronx
The sellers of the property were Quoc Anh Le, John Hoyt, Victor & Wanda Reynoso. On the other hand, the buyer of the property was 2499 Sedgwick Development LLC, represented by SKF Development's Greg Roberts. Jonathan Hakimian, from an undisclosed agency, acted as the broker in the transaction.
Players
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93