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3165 Villa Avenue

Emeric Weinstock Acquires Development Site At 3165 Villa Avenue In Bedford Park, Bronx For $4.5M
SOLDDevelopment Site

Emeric Weinstock Acquires Development Site At 3165 Villa Avenue In Bedford Park, Bronx For $4.5M

3165 Villa Avenue

$4,500,000

$541/SF

Building Size

8,316 SF

Asset Type

Development Site

Closing

Sep 29, 2023

AI

Emeric Weinstock, operating as Villa 26 LLC, acquired a development parcel at 3165 Villa Avenue in Bedford Park, Bronx, from private equity firm Angelo Gordon and developer Spaxel, in a deal worth $4.5 million. The property is a development site located at 3165 Villa Avenue in Bedford Park, Bronx. It spans a total square footage of 8,316 square feet. The sale price for the property was $4,500,000, amounting to a price per square foot of $541. The buyer in this transaction was Emeric Weinstock, representing Villa 26 LLC, while the seller was Cory Elbaum, in representation of Angelo Gordon & Spaxel.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $4,500,000
  • Address: 3165 Villa Avenue, Bedford Park, Bronx
  • Buyer: Emeric Weinstock (Villa 26 LLC)
  • Seller: Cory Elbaum (Angelo Gordon & Spaxel)

This deal involved Emeric Weinstock as the buyer, representing Villa 26 LLC, and Cory Elbaum as the seller, representing Angelo Gordon & Spaxel. The transaction took place at 3165 Villa Avenue, Bedford Park, Bronx, with a sale price of $4,500,000 for the development site. Both parties successfully completed the deal, marking another significant transaction in the real estate market.

Players

Emeric Weinstock

Buyer

$23.8M

vol

2 deals

Buyer
Angelo Gordon & Co.
Angelo Gordon & Co.Seller

Bronx 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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93