Ben Beitel Acquires Development Site For $23.3M On Walton Avenue In Bronx NY
SOLD
$23,300,000
New York
See Similar DealsDevelopment Site
Sold 11/23/2022
SOLD
Ben Beitel Acquires Development Site For $23.3M On Walton Avenue In Bronx NY
270 Walton Ave Bronx, NY 10451
See Similar DealsDevelopment Site
Sold 11/23/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The property involved in this transaction is a development site located at 270 Walton Avenue and 315 Grand Concourse in the Bronx. The sale took place on November 23, 2022, with a sale price of $23,300,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $23,300,000
- Address: 270 Walton Avenue & 315 Grand Concourse
- Market: Bronx
Ben Beitel was the buyer in this transaction, represented by Daniel Rahmani from Capital Property Partners. The seller was John Lage, with Nir Mor from Mor NY Realty acting as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,242,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$82,779.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$110,453.89
Annual Debt Service$1,325,446.65
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