Updated Oct 28, 2024
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
About this deal
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.
On the Map
$4,000,000
$85/SF
Development Site
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Players
New York Development Site Market Snapshot
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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