Yaakov Lefkowitz Acquires Development Site In Bronx For $1.8M
3011 Bronxwood Avenue, The Bronx, NY, USA
$1,800,000
$115/SF
Building Size
15,600 SF
Asset Type
Development Site
Closing
Nov 15, 2020
AI
A development site located at 3011 Bronxwood Avenue in Bronx has been sold for $1,800,000. The property is zoned as R6 and spans across a total square footage of 15,600. The buyer, Yaakov Lefkowitz, plans to add 2 floors to the property and develop a 20 unit apartment building. The transaction took place on November 16, 2020, with Frank Piluso as the seller.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,800,000
- Address: 3011 Bronxwood Avenue
- Market: Bronx
- Asset Type: Development Site
- Zoning: R6
- Buyer: Yaakov Lefkowitz
- Seller: Frank Piluso
- Brokers: Steven Westreich & Abe Jemal of Westbridge Realty
- BSF: 15,600
- PPBSF: $115
For similar development opportunities, please contact Abe Jemal at [email protected] or Steven Westreich at [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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93