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
New York 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93