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585 Jackson Avenue

Yosef Beer Purchases Development Site At 585 Jackson Avenue, Bronx For $2.7M
SOLDDevelopment Site

Yosef Beer Purchases Development Site At 585 Jackson Avenue, Bronx For $2.7M

585 Jackson Avenue

$2,700,000

Building Size

Asset Type

Development Site

Closing

Apr 29, 2024

AI

The development site located at 585 Jackson Avenue in Bronx was successfully sold for $2,700,000. The property spans a total of 17,234 square feet, resulting in a price per square foot of $157.

Summary of transaction details:

Matthew Barbaccia from Brix Real Estate Advisors facilitated the transaction between the buyer, Yosef Beer, and the seller, Steven Zervoudis. The successful deal underscores the pivotal role played by the involved parties in the transfer of this development site.

Players

Matthew Barbaccia

Brix Real Estate Advisors

Broker

$71.1M

vol

30 deals

Broker

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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93