facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Development Site

/

Sale

/

2769-2773 Creston Avenue, NY

Andrea Gjini Acquires Development Site In Bronx For $3.3M
SOLDDevelopment Site

Andrea Gjini Acquires Development Site In Bronx For $3.3M

2769-2773 Creston Avenue, NY

$3,300,000

$109/SF

Building Size

30,172 SF

Asset Type

Development Site

Closing

Nov 3, 2022

AI

A development site located at 2769-2773 Creston Avenue in Bronx has been sold for a transaction price of $3,300,000. The property spans a total square footage (BSF) of 30,172, resulting in a price per square foot (PPBSF) of $109. The transaction took place on 11/03/2022.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,300,000
  • Address: 2769-2773 Creston Avenue
  • Market: Bronx
  • Buyer: Andrea Gjini
  • Seller: Rajive Maret
  • Broker: Michael Saidian - Capital Property Partners
  • BSF: 30,172
  • PPBSF: $109

The deal was facilitated by broker Michael Saidian of Capital Property Partners, who represented both the buyer, Andrea Gjini, and the seller, Rajive Maret.

Players

Michael Saidian

Capital Property Partners

Broker

$51.6M

vol

9 deals

Broker

Andrea Gjini

Buyer

$88M

vol

7 deals

Buyer

Rajive Maret

Seller

$8.5M

vol

2 deals

Seller

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93