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633 East 230th Street, The ...

Zelig Weiss Acquires Development Site In Bronx For $1.5M
SOLDDevelopment Site

Zelig Weiss Acquires Development Site In Bronx For $1.5M

633 East 230th Street, The Bronx, New York 10466, United States

$1,500,000

$87/SF

Building Size

17,200 SF

Asset Type

Development Site

Closing

Jun 28, 2022

AI

A development site located at 633 E. 230th St. in the Bronx has been sold for a price of $1,500,000. The property spans 17,200 square feet and has a price per square foot (PPSF) of $87. The transaction took place on 06/29/2022 and the buyer of the property was Zelig Weiss, while the seller was Al Ko. The property was listed by Adis Kolenovic from Kole Group, who represented the buyer in the deal. The development site is situated in the Bronx market.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,500,000
  • Address: 633 E. 230th St.
  • Market: Bronx
  • BSF: 17,200
  • PPBSF: $87

Adis Kolenovic from Kole Group played a key role as the broker in this deal. Adis Kolenovic focused on building strong business relationships rather than just earning commissions. As they say, "a simple business dinner at Rocco's Steakhouse can move mountains!"

Players

Adis Kolenovic

Kole Group

Broker

$11.4M

vol

10 deals

Broker
Zelig Weiss

Zelig Weiss

Buyer

$69.4M

vol

5 deals

Buyer

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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93