Steven Westreich Acquires Development Site In Kingsbridge For $1.75M
SOLD
$1,750,000
New York
See Similar DealsDevelopment Site16,800 SF
Sold 02/03/2022
SOLD
Steven Westreich Acquires Development Site In Kingsbridge For $1.75M
2835 Sedgwick Avenue, The Bronx, New York 10468, United States
See Similar DealsDevelopment Site16,800 SF
Sold 02/03/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$104
Total Square Footage:16,800 SF
Transaction Type:Sale
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].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$93,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,217.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,295.89
Annual Debt Service$99,550.71
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