Updated Oct 28, 2024
Leviathan Group Acquires Development Site In Mott Haven For $1.05M
508 Brook Avenue, Bronx, NY 10451
$1,050,000
$72/SF
Building Size
14,475 SF
Asset Type
Development Site
Closing
Dec 22, 2021
About this deal
AI
A development site located at 508-510 Brook Avenue in Mott Haven has been sold for a price of $1,050,000. The property, with a building square footage (BSF) of 14,475 and a price per BSF (PPBSF) of $73, was acquired by the Leviathan Group, represented by Yaron Cohen. The seller in this transaction was the SoBro Development Corporation. The sale was facilitated by brokers Jonathan Squires and Josh Neustadter from Cushman & Wakefield.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,050,000
- Address: 508-510 Brook Avenue
- Market: Mott Haven
This transaction showcases the successful collaboration between the Leviathan Group, led by Yaron Cohen, and the SoBro Development Corporation. Jonathan Squires and Josh Neustadter from Cushman & Wakefield played instrumental roles as brokers in facilitating the deal. The sale of this development site reflects the ongoing investment and development activities in the Mott Haven area.
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93