SHG 3602 LLC Acquires Development Site On Holland Ave, Bronx For $1.1M
3602 Holland Ave, Bronx, NY, 10467
$1,100,000
$81/SF
Building Size
13,556 SF
Asset Type
Development Site
Closing
Nov 20, 2023
AI
The development site located at 3602 Holland Ave, Bronx, NY, 10467 is a residential property with a sale price of $1,100,000. The asset encompasses 13,556 square feet and is situated in the Bronx market. It is zoned to allow for the construction of a 20-unit multifamily building.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,100,000.00
- Address: 3602 Holland Ave, Bronx, NY, 10467
- Square Footage: 13,556
- Buyer: SHG 3602 LLC
- Seller: Chukwuemeka Dike
- Buyer's Representative: Menachem Babayov-Westbridge Realty Group
- Seller's Representative: Steven Westreich-Westbridge Realty Group
Menachem Babayov of Westbridge Realty Group facilitated the representation of the buyer, SHG 3602 LLC, while Steven Westreich, also of Westbridge Realty Group, represented the seller, Chukwuemeka Dike. This transaction highlights the involvement of both representatives from the same agency in the deal.
Players
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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93