Yosef Beer Purchases Development Site At 585 Jackson Avenue, Bronx For $2.7M
SOLD
$2,700,000
New York
See Similar DealsDevelopment Site
Sold 04/29/2024
SOLD
Yosef Beer Purchases Development Site At 585 Jackson Avenue, Bronx For $2.7M
585 Jackson Avenue
See Similar DealsDevelopment Site
Sold 04/29/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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:
- Property Type: Development Site
- Transaction Amount: $2,700,000
- Buyer: Yosef Beer
- Seller: Steven Zervoudis
- Brokers: Matthew Barbaccia - Brix Real Estate Advisors
- Address: 585 Jackson Avenue
- Market: Bronx
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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