Ak Munir Acquires Development Site At 581 Van Nest Avenue From Kristian Saljanin For $575,000
581 Van Nest Avenue
$575,000
$242/SF
Building Size
2,375 SF
Asset Type
Development Site
Closing
Mar 25, 2026
AI
The property involved in the transaction is a development site located at 581 Van Nest Avenue in the Bronx, which was sold for $575,000. The property spans a total square footage of 2,375, with a price per square foot of $242. Additionally, the building square footage is 3,918, resulting in a price per building square foot of $147. The property was sold with approved plans.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $575,000
- Address: 581 Van Nest Avenue
- Market: Bronx
- SF: 2,375
- PPSF: $242
- BSF: 3,918
- PPBSF: $147
- Buyer: Ak Munir
- Seller: Kristian Saljanin
- Buyer & Seller's Rep: Steven Saljanin - EXIT Realty Private Client
Key individuals in this transaction include the buyer, Ak Munir, and the seller, Kristian Saljanin. Steven Saljanin represented both the buyer and seller in this sale, ensuring all aspects of the transaction were handled appropriately.
Players
Bronx 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
27.59%
Cash-on-Cash
-7.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93