Updated Nov 12, 2025
Moses Freund Purchases Development Site From Yaghoubi Family For $2.5 Million In Bronx
383 Morris Avenue
$2,500,000
Building Size
—
Asset Type
Development Site
Closing
Nov 4, 2025
About this deal
AI
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.
On the Map
$2,500,000
Development Site
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Players
Bronx Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93