facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Development Site

/

Sale

/

3251 Westchester Avenue, Br...

Top Rock Holdings Acquires Development Site In Bronx For $4M
SOLDDevelopment Site

Top Rock Holdings Acquires Development Site In Bronx For $4M

3251 Westchester Avenue, Bronx, NY 10461

$4,000,000

$85/SF

Building Size

46,681 SF

Asset Type

Development Site

Closing

Dec 29, 2021

AI

Top Rock Holdings, represented by Uri Mermelstein, Joseph Yushuvayev, and Moshik Regev, purchased a development site located at 3251 Westchester Ave in the Bronx. The seller in this transaction was Anthony Pedatella. The sale price for the property was $4,000,000, with the site covering an area of 60,000 square feet. The price per square foot was $66.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $4,000,000
  • Address: 3251 Westchester Ave
  • Market: Bronx
  • Buyer: Top Rock Holdings - Uri Mermelstein, Joseph Yushuvayev & Moshik Regev
  • Seller: Anthony Pedatella

It is worth noting that @Toprockholdingsnyc described the property as a Medical Office Building with Retail. This acquisition showcases the strategic move by Top Rock Holdings into the development sector in the Bronx market.

Players

Steve Lorenzo

Lee & Associates

Broker

$112.8M

vol

23 deals

Broker
Moshik Regev

Moshik Regev

Top Rock Holdings

Buyer

$15.6M

vol

5 deals

Buyer

Anthony Pedatella

Seller

$8M

vol

2 deals

Seller

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93