Updated Oct 29, 2024
Peter Fine's Bolivar Development Acquires Inwood Dev. Site For $16M
400 W 219th St, Manhattan, New York, NY, USA
$16,000,000
$132/SF
Building Size
120,400 SF
Asset Type
Development Site
Closing
Mar 15, 2021
About this deal
AI
A development site located at 400 W. 219th St. in Inwood has been sold for $16,000,000. The property, situated on a lot size of 200ft x 100ft, is zoned as C6-2, IN. The buyer, Peter Fine of Bolivar Development, acquired the site from Sophia Bishkoff of Van John Realty LLC. The transaction took place on March 16, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,000,000
- Address: 400 W. 219th St., Inwood
- Market: Inwood
- Asset Type: Development Site
- Zoning: C6-2, IN
- Buyer: Peter Fine - Bolivar Development
- Seller: Sophia Bishkoff - Van John Realty LLC
- Date: March 16, 2021
- Lot Size: 200ft x 100ft
A permit for a new building was filed in February 2021. The building is estimated to have a buildable square footage of 120,400, resulting in a price per buildable square foot of $132.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93