Paras Chadha Acquires Bronx Development Site From Herold Katz For $1.7M
430 E 188th St, The Bronx, NY 10458, USA
$1,700,000
$92/SF
Building Size
18,430 SF
Asset Type
Development Site
Closing
Sep 21, 2020
AI
A development site located at 430 East 188th Street in the Bronx has been sold for a price of $1,700,000. The property spans a total of 18,430 square feet and has a price per buildable square foot of $92. The transaction took place on September 22, 2020.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $1,700,000
- Address: 430 East 188th Street, Bronx
- Market: Bronx
- Buyer: Paras Chadha, Ram Chadha @TheUmbrellaHotel
- Seller: Herold Katz
The buyer in this transaction is Paras Chadha, along with Ram Chadha from @TheUmbrellaHotel. The seller is Herold Katz. The deal was facilitated by David Jagarnauth, a representative from the brokerage.
Players
New York 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
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93