Updated Dec 20, 2023
Samuel Weiss Acquires Development Site In Bronx From Daniel Gabay For $440,000
598 Eagle Ave, The Bronx, NY 10455, USA
$440,000
$67/SF
Building Size
6,500 SF
Asset Type
Development Site
Closing
Oct 21, 2020
About this deal
AI
A development site located at 598 Eagle Ave in the Bronx has been sold in a recent transaction. The property encompasses approximately 6,500 square feet and has a price per buildable square foot (PPBSF) of $68. The transaction involved the sale of the property to Samuel Weiss for a total price of $440,000. The property has the potential for the construction of 10 residential units.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $440,000
- Address: 598 Eagle Ave, Bronx
- Market: Bronx
- BSF: 6,500
- PPBSF: $68
- Units: 10
The buyer in this transaction was Samuel Weiss, while the seller was Daniel Gabay. It's worth noting that the seller had to deal with a utility easement and a street easement in order to secure approval from the Department of Buildings (DOB) for the development on the site. The seller is now looking to carry out a 1031 exchange and can be contacted at [email protected] for potential deals.
On the Map
$440,000
$67/SF
Development Site
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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
36.05%
Cash-on-Cash
-10.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93