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2835 Sedgwick Avenue, The B...

Steven Westreich Acquires Development Site In Kingsbridge For $1.75M
SOLDDevelopment Site

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

Hen Vaknin

Broker

$23.7M

vol

5 deals

Broker
Steven Westreich

Steven Westreich

Buyer

$122.4M

vol

20 deals

Buyer

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