Chris Nicosia Acquires Land In Mott Haven, Bronx For $3.6M
335 Grand Concourse, The Bronx, NY 10451, USA
Building Size
29,721 SF
Asset Type
Development Site
Closing
Jun 17, 2018
AI
The property at 335 Grand Concourse in Mott Haven, Bronx, New York, has been sold in a closed transaction for a price of $3,595,000. The property is a corner development site, offering a total buildable square footage (BSF) of 29,721. The transaction took place on 6/18/2018.
Summary of transaction details
- Property Type: Land / Corner / DevSite
- Transaction Amount: $3,595,000
- Property Address: 335 Grand Concourse, New York
- Market: Mott Haven, Bronx
- Seller: Aditi and Sanjay Patel
- Buyer: Chris Nicosia
- Brokers: Nir Mor and Claire Johnson, of Capital Property Partners
The deal was facilitated by brokers Nir Mor and Claire Johnson, representing the buyer and seller respectively. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93