Updated Dec 21, 2023
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
About this deal
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.
On the Map
$3,300,000
$109/SF
Development Site
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Players
New York Development Site Market Snapshot
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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