Updated Oct 28, 2024
Gus Galitos Acquires Development Site In Bronx From 5 Boro Real Estate Partners For $900,000
2610 Saint Raymond Avenue, Bronx, NY, USA
$900,000
$78/SF
Building Size
11,543 SF
Asset Type
Development Site
Closing
Nov 12, 2021
About this deal
AI
Located at 2610 Saint Raymond Ave. in the Bronx, this development site has been sold in a closed transaction. The property spans 11,543 square feet and is classified as a Development Site. The deal was finalized on November 12, 2021, with a sale price of $900,000. The price per buildable square footage (PPBSF) is $77.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $900,000
- Address: 2610 Saint Raymond Ave.
- Market: Bronx
- Buyer: Gus Galitos
- Seller: 5 Boro Real Estate Partners - Moshik Regev
- Brokers: Chris Varjan, Steve Lorenzo, Jonathan Bruan & George Steffani - Lee & Associates NYC
- BSF: 11,543
- PPBSF: $77
The deal was facilitated by the broker representatives Chris Varjan, Steve Lorenzo, Jonathan Bruan, and George Steffani, who are associated with Lee & Associates NYC. They successfully represented both the buyer, Gus Galitos, and the seller, 5 Boro Real Estate Partners - Moshik Regev, in this transaction.
On the Map
$900,000
$78/SF
Development Site
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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
17.63%
Cash-on-Cash
-5.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93