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
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