Chaim Simkowitz Acquires Development Site In Morrisania For $5.6M
SOLD
$5,600,000
New York
See Similar DealsDevelopment Site73,432 SF
Sold 08/04/2020
SOLD
Chaim Simkowitz Acquires Development Site In Morrisania For $5.6M
421 E 161 St, The Bronx, NY 10451, USA
See Similar DealsDevelopment Site73,432 SF
Sold 08/04/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$76
Total Square Footage:73,432 SF
Transaction Type:Sale
A development site located at 421 East 161st Street in Morrisania has been sold for a price of $5,600,000. The property has a total building square footage of 73,432 and a price per buildable square foot (PPBSF) of $76.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $5,600,000
The buyer of the property is Chaim Simkowitz, while the seller is Abraham Lieberman.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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