Nissan & Josh Cohen Acquire Van Nest Dev Site From Jonathan Sacks For $950K
500 Van Nest Avenue, Bronx, NY 10460
$950,000
$53/SF
Building Size
17,910 SF
Asset Type
Development Site
Closing
May 13, 2021
AI
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.
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
16.70%
Cash-on-Cash
-4.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93