Updated Dec 4, 2024
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
About this deal
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.
The development site sale at 3870 Sedgwick Avenue in Bronx, New York sold for $1.1M in 2023. 3870 Sedgwick Avenue is classified as Development Site on Traded. Giancarlo Cugini, Karl Brumback, JLL appear on the sale alongside JLL. This page is the Bronx, New York file for the 3870 Sedgwick Avenue development site sold: pricing, party profiles, and other closed development site comps from the same Bronx sit in the Market section below. Filter that Bronx development site set by closing date to see what else sold near 3870 Sedgwick Avenue around 2023. Published consideration for 3870 Sedgwick Avenue is $1.1M, dated 2023. Cite this Innovative Development Acquires Kingsbridge Heights Development Site For $1.05M sale when underwriting similar development site product around Bronx, New York.
On the Map
$1,050,000
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93