Nissan & Josh Cohen Acquire Van Nest Dev Site From Jonathan Sacks For $950K
SOLD
$950,000
New York
See Similar DealsDevelopment Site17,910 SF
Sold 05/14/2021
SOLD
Nissan & Josh Cohen Acquire Van Nest Dev Site From Jonathan Sacks For $950K
500 Van Nest Avenue, Bronx, NY 10460
See Similar DealsDevelopment Site17,910 SF
Sold 05/14/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$53
Total Square Footage:17,910 SF
Transaction Type:Sale
A development site located at 500-508 Van Nest Ave in the Van Nest market has been sold for a price of $950,000. The property spans 17,910 square feet and has a price per square foot of $53.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $950,000
- Address: 500-508 Van Nest Ave
- Market: Van Nest
- Buyer: Nissan & Josh Cohen
- Seller: Jonathan Sacks
- Brokers: Richard Guarino & Skyler Gironda (rickCapGroup @FriedmanRoth)
- Square Footage: 17,910
- Price per Square Foot: $53
The sale of this development site was facilitated by Richard Guarino and Skyler Gironda, representing the buyer and seller respectively. The transaction took place on May 14, 2021.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$50,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,375.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,503.48
Annual Debt Service$54,041.82
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