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
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