Moses Freund Purchases Development Site From Yaghoubi Family For $2.5 Million In Bronx
SOLD
$2,500,000
+ 1
New York
See Similar DealsDevelopment Site
Sold 11/05/2025
SOLD
Moses Freund Purchases Development Site From Yaghoubi Family For $2.5 Million In Bronx
383 Morris Avenue
See Similar DealsDevelopment Site
Sold 11/05/2025
+ 1
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The transaction involves a development site located at 383 Morris Avenue in the Bronx. The property was sold for $2,500,000, with a building square footage of 18,959 and a price per building square foot of $131.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,500,000
- Address: 383 Morris Avenue
- Market: Bronx
- Buyer: Moses Freund
- Seller: Yaghoubi Family
- Brokers: Mitchel Flaherty, Jonathan Auerbach & Brian Whelan - Ripco
The deal involved significant participation from Ripco, with Mitchel Flaherty, Jonathan Auerbach, and Brian Whelan representing the interests of the buyer and seller throughout the transaction process.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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