Michael Musto Of Development Site Advisors Represents Sale Of Development Site In Inwood For $8M
SOLD
$8,000,000
New York
See Similar DealsDevelopment Site
Sold 09/09/2025
SOLD
Michael Musto Of Development Site Advisors Represents Sale Of Development Site In Inwood For $8M
5099 Broadway & 5089 Broadway
See Similar DealsDevelopment Site
Sold 09/09/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The property involved in this transaction is a development site located at 5099 Broadway and 5089 Broadway in the Inwood market. The sale price of the asset was $8,000,000, with a total lot size of 12,362 square feet, resulting in a price per square foot of $647. The zoning classifications for this site are R7D, C2-4, IN, and MIH.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,000,000
- Lot Size: 12,362 sq ft
- Price per Lot Square Foot: $647
- Zoning: R7D, C2-4, IN, MIH
- Broker: Michael Musto - Development Site Advisors
Michael Musto from Development Site Advisors represented the transaction, facilitating the deal for the development site. His role as the broker was crucial in the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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