Updated Dec 21, 2023
Alex Babakhanov & Jonathan Babakhanov Acquire Development Site In Norwood For $1.6M
3065 Perry Avenue, The Bronx, New York 10467, United States
$1,600,000
$106/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Feb 23, 2022
About this deal
AI
A development site located at 3065-3067 Perry Avenue in Norwood has been sold for $1,600,000. The property spans 15,000 square feet with a price per buildable square foot of $106. The sale was facilitated by Richard Mameli from BronxCRE, who represented the seller, Joesph Quintessenza and James Quintessenza, and procured the buyers, Alex Babakhanov and Jonathan Babakhanov.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,600,000
- Address: 3065-3067 Perry Avenue
- Market: Norwood
- Buyer: Alex Babakhanov & Jonathan Babakhanov
- Seller: Joesph Quintessenza & James Quintessenza
- Broker: Richard Mameli - BronxCRE
- BSF: 15,000 square feet
- PPBSF: $106
If you are looking for development sites or multi-family properties in The Bronx, Richard Mameli from BronxCRE can assist you. Feel free to contact him at 347-387-8228 or email [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93