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350 Grand Concourse, West B...

GS Humane Corporation Sells Development Site In Mott Haven For $21.2M
SOLDDevelopment Site

GS Humane Corporation Sells Development Site In Mott Haven For $21.2M

350 Grand Concourse, West Bronx, Bronx, NY, USA

$21,200,000

$114/SF

Building Size

186,000 SF

Asset Type

Development Site

Closing

Nov 17, 2021

AI

The development site located at 350 Grand Concourse in Mott Haven has been sold for a total price of $21,200,000. The property, with a zoning classification of C6-2A, is a development site with a total buildable square footage (BSF) of 186,000 as-of-right. The lot dimensions measure 311.95 feet by 100 feet. The sale transaction was completed on November 17, 2021.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $21,200,000
  • Market: Mott Haven
  • Zoning: C6-2A
  • BSF: 186,000
  • PPBSF: $113

The seller of the property was GS Humane Corporation. The seller's representatives involved in the deal were Chris Brodhead, Mitchel Flaherty, David Simone, and Nikola Cosic, who represent 6RealEstate & Concourse Realty Partners.

Players

Mitchel Flaherty

Ripco

Broker

$172.7M

vol

32 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

Bronx 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

0.75%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93