Urban Pathways Acquires Development Site On Timpson Place In Bronx For $5.5M
SOLD
$5,500,000
New York
See Similar DealsDevelopment Site
Sold 05/09/2024
SOLD
Urban Pathways Acquires Development Site On Timpson Place In Bronx For $5.5M
469 Timpson Place, 834 East 147th Street & 836 East 147th Street
See Similar DealsDevelopment Site
Sold 05/09/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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