Urban Pathways Acquires Development Site On Timpson Place In Bronx For $5.5M
469 Timpson Place, 834 East 147th Street & 836 East 147th Street
$5,500,000
Building Size
—
Asset Type
Development Site
Closing
May 9, 2024
AI
The development site located at 469 Timpson Place, 834 East 147th Street, and 836 East 147th Street in Bronx has been sold for $5,500,000. The property spans across 71,000 square feet and was acquired by Urban Pathways from seller Steven Westreich.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,500,000
- Buyer: Urban Pathways
- Seller: Steven Westreich
- Broker: Samuel Hartstein - Gemstone Realty Group
- Address: 469 Timpson Place, 834 East 147th Street & 836 East 147th Street
- Market: Bronx
- Asset Type: Development Site
Samuel Hartstein from Gemstone Realty Group facilitated the transaction as the broker representing the parties involved in the sale of this development site.
Bronx 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93