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WellLife Network Acquires Development Site In Bronx From Upie Howden For $1.27M

Property Image
SOLD
$1,271,075

New York

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Development Site2,000 SF
Sold 07/13/2023
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Property Image
SOLD

WellLife Network Acquires Development Site In Bronx From Upie Howden For $1.27M

3667 White Plains Rd Bronx, NY 10467, USA

See Similar Deals
Development Site2,000 SF
Sold 07/13/2023
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$635
Total Square Footage:2,000 SF
Transaction Type:Sale

A development site located at 3667 White Plains Road in Bronx has been sold. The property, spanning 2,000 square feet, was purchased by WellLife Network from Upie Howden. The deal was facilitated by brokers Nathan Horne from Compass, and Giancarlo Cugini and Karl Brumback from JLL. The sale price for the site was $1,271,075, resulting in a price per square foot of $636.

Summary of transaction details:

Nathan Horne from Compass, along with Giancarlo Cugini and Karl Brumback from JLL, were instrumental in facilitating the sale of the development site at 3667 White Plains Road. WellLife Network emerged as the buyer, while Upie Howden acted as the seller. This transaction highlights the active involvement of industry professionals in the real estate market in Bronx.

Players

Karl Brumback
25 deals$388.3M volume(917) 509-9660
BROKER

Nathan Horne
Compass
27 deals$211.7M volume(706) 255-5657
BROKER

Giancarlo Cugini
JLL
18 deals$126M volume(914) 552-6403
BROKER

BUYER

Details

SOLD
IMAGE: Nathan Horne, Giancarlo Cugini & Karl Brumback DATE: 07/13/2023 ADDRESS: 3667 White Plains Road MARKET: Bronx ASSET TYPE: Development Site BUYER: WellLife Network SELLER: Upie Howden BROKERS: Nathan Horne - Compass (@Compass) (@CompassNY); Giancarlo Cugini & Karl Brumback - JLL (@JLL) SALE PRICE: $1,271,075 SF: 2,000 ~ PPSF: $636

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$67,790.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,515.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,025.54
Annual Debt Service$72,306.53