Innovative Development Acquires Kingsbridge Heights Development Site For $1.05M
SOLD
$1,050,000
New York
See Similar DealsDevelopment Site
Sold 11/30/2023
SOLD
Innovative Development Acquires Kingsbridge Heights Development Site For $1.05M
3870 Sedgwick Avenue
See Similar DealsDevelopment Site
Sold 11/30/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$55,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
Annual Debt Service$59,730.43
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