Steven Westreich Acquires Development Site In Kingsbridge For $1.4M
SOLD
$1,400,000
New York
See Similar DealsDevelopment Site11,700 SF
Sold 12/06/2021
SOLD
Steven Westreich Acquires Development Site In Kingsbridge For $1.4M
3419 Giles Place, The Bronx, New York 10463, United States
See Similar DealsDevelopment Site11,700 SF
Sold 12/06/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$119
Total Square Footage:11,700 SF
Transaction Type:Sale
3419 Giles Place, located in Kingsbridge, is a development site with a zoning designation of R6A. The property was recently sold in a closed transaction for a sales price of $1,400,000. The site has a building square footage (BSF) of 11,700 and a price per BSF (PPBSF) of $119.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,400,000
- Address: 3419 Giles Place, Kingsbridge
- Market: Kingsbridge
- Zoning: R6A
The buyer of the property is Steven Westreich. The seller is Alice Butler. Steven Westreich plans to develop 3419 Giles Place into a 10-unit apartment building. As an active investor in the Bronx, Steven Westreich is actively seeking to expand his portfolio in the area. For inquiries or to submit a deal, Steven Westreich can be contacted at [email protected] or 914-755-5906.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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