SOLDDevelopment Site
Uri Mermelstein Acquires Retail/Development Site In Bronx For $8.75M
2968 3rd Avenue, Bronx, NY, USA
$8,750,000
$763/SF
Building Size
11,460 SF
Asset Type
Development Site
Closing
Aug 26, 2021
AI
A retail and development site located at 2968 3 Avenue in Bronx has been sold for $8,750,000. The property spans a total square footage of 11,460, with a price per square foot of $763.
Summary of transation details
- Property Type: Retail/Development Site
- Transaction Amount: $8,750,000
- Address: 2968 3 Avenue
- Market: Bronx
- BSF: 48,074
- Price per BSF: $182
- SF: 11,460
- Price per SF: $763
The buyer of the property is Uri Mermelstein, while Gabriel J Chehebar acted as the seller in this deal.
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
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93