GEEL Community Services Acquires Development Site In Bronx, Norwood For $2.475M
SOLD
$2,475,000
+ 2
New York
See Similar DealsDevelopment Site33,000 SF
Sold 08/13/2019
SOLD
GEEL Community Services Acquires Development Site In Bronx, Norwood For $2.475M
3099 Webster Ave, The Bronx, NY 10467, USA
See Similar DealsDevelopment Site33,000 SF
Sold 08/13/2019
+ 2
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$75
Total Square Footage:33,000 SF
Transaction Type:Sale
A development site located at 3099-3101 Webster Avenue in Bronx, Norwood has been sold for $2,475,000. The property, with a total buildable square footage (BSF) of 33,000, was listed with an asking price of $2,275,000, resulting in a price per buildable square foot (PPBSF) of $75. The transaction took place on August 13, 2019.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,475,000
- Property Address: 3099-3101 Webster Avenue
- Market: Bronx, Norwood
The seller of the development site was Jay Schippers. On the buyer's side, GEEL Community Services, represented by Maria Matias, acquired the property. The transaction was facilitated by brokers Josh Neustadter, Addison Berniker, and Jon Squires.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$132,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,793.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,732.76
Annual Debt Service$140,793.15
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