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3419 Giles Place, The Bronx...

Steven Westreich Acquires Development Site In Kingsbridge For $1.4M
SOLDDevelopment Site

Steven Westreich Acquires Development Site In Kingsbridge For $1.4M

3419 Giles Place, The Bronx, New York 10463, United States

$1,400,000

$119/SF

Building Size

11,700 SF

Asset Type

Development Site

Closing

Dec 6, 2021

AI

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.

Players

Steven Westreich

Buyer

$122.4M

vol

20 deals

Buyer

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

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93