Steven Westreich Acquires Development Site In Kingsbridge For $1.75M
2835 Sedgwick Avenue, The Bronx, New York 10468, United States
$1,750,000
$104/SF
Building Size
16,800 SF
Asset Type
Development Site
Closing
Feb 2, 2022
AI
A development site located at 2835 Sedgwick Avenue in Kingsbridge has been sold for a price of $1,750,000. The property, which spans approximately 16,800 square feet, will be developed into a 23-unit apartment building. The transaction took place on 02/03/2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,750,000
- Address: 2835 Sedgwick Avenue
- Market: Kingsbridge
- Buyer: Steven Westreich
- Seller: Waleed Nasser
The buyer, Steven Westreich, acquired the property through the representation of Hen Vaknin and Tomer Vaknin from Gaia Property Group. For inquiries or to submit a deal, Steven Westreich can be contacted at 914-755-5906 or [email protected].
Players
New York 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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93