Updated Dec 21, 2023
Maddd Equities And Joy Construction Group Acquire Dev Site In Inwood For $12.3M
4778 Broadway, New York, NY 10034, USA
Building Size
405,920 SF
Asset Type
Development Site
Closing
Feb 21, 2018
About this deal
AI
A development site located at 4778 Broadway in Inwood, New York has been sold for $12,300,000. The property spans a total of 40,592 square feet and has a price per square foot of 303. The transaction involved the seller, Jorge Vasquez, and the buyers, Jorge Madruga's Maddd Equities and Eli Weiss' Joy Construction Group. The site was acquired at a bankruptcy auction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,300,000
- Address: 4778 Broadway, New York
- Market: Inwood
- Square footage: 40,592 sf
- Price per square foot: 303
- Seller: Jorge Vasquez
- Buyers: Jorge Madruga's Maddd Equities and Eli Weiss' Joy Construction Group
Eli Weiss and Jorge Madruga, representing Joy Construction Group and Maddd Equities respectively, were the key individuals involved in this deal.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93