SOLDDevelopment Site
Innovative Development Acquires Kingsbridge Heights Development Site For $1.05M
3870 Sedgwick Avenue
$1,050,000
Building Size
—
Asset Type
Development Site
Closing
Nov 30, 2023
AI
A development site located at 3870 Sedgwick Avenue in Kingsbridge Heights, Bronx has been sold for $1,050,000. The property was purchased by Innovative Development from Barbara Lind.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,050,000
- Address: 3870 Sedgwick Avenue
- Market: Kingsbridge Heights, Bronx
Giancarlo Cugini and Karl Brumback from JLL represented both parties in this transaction.
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93