Innovative Development Acquires Development Site In Kingsbridge Heights, Bronx For $2M
3860 Sedgwick Avenue & 3862 Sedgwick Avenue
$2,000,000
$116/SF
Building Size
17,220 SF
Asset Type
Development Site
Closing
Oct 11, 2023
AI
A development site located at 3860-3862 Sedgwick Avenue in Kingsbridge Heights, Bronx, has been sold for $2,000,000. The site spans 8,610 square feet, resulting in a price per square foot of $232.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,000,000
- Address: 3860-3862 Sedgwick Avenue, Kingsbridge Heights, Bronx
- Square Footage: 8,610
- Price Per Square Foot: $232
The sale was facilitated by Giancarlo Cugini and Karl Brumback of JLL, who represented both the buyer, Innovative Development, and the sellers, Clem Colucci and Donna Dodds. The transaction took place on 10/11/2023.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93