Updated Oct 28, 2024
WellLife Network Acquires Development Site In Olinville, Bronx For $7.5M
3642 Willett Avenue, The Bronx, New York 10467, United States
$7,500,000
$884/SF
Building Size
8,480 SF
Asset Type
Development Site
Closing
Oct 17, 2022
About this deal
AI
An $8,480 square foot development site located at 3642 Willett Avenue in Olinville, Bronx, was recently sold for $7,500,000. The property was purchased by WellLife Network from the Church of Saint Mary of Olinville. The sale price translates to $884 per square foot.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $7,500,000
- Address: 3642 Willett Avenue
- Market: Olinville, Bronx
- Buyer: WellLife Network
- Seller: Church of Saint Mary of Olinville
- BSF: 53,345
- PPBSF: $141
- SF: 8,480
- PPSF: $884
The transaction involved the sale of the development site to WellLife Network, representing the buyer in the deal. The seller, Church of Saint Mary of Olinville, completed the transaction, which closed on October 18, 2022. This transaction showcases the ongoing real estate activity in the Olinville market, with a significant sale price of $7,500,000.
On the Map
$7,500,000
$884/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93