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Zelig Weiss Acquires Development Site In Bronx For $1.5M

Property Image
SOLD
$1,500,000

New York

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Development Site17,200 SF
Sold 06/29/2022
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Property Image
SOLD

Zelig Weiss Acquires Development Site In Bronx For $1.5M

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

See Similar Deals
Development Site17,200 SF
Sold 06/29/2022
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$87
Total Square Footage:17,200 SF
Transaction Type:Sale

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
10 deals$11.4M volume(917) 485-5519
BROKER

Zelig Weiss
5 deals$69.4M volume
BUYER

Details

SOLD
IMAGE: Adis Kolenovic DATE: 06/29/2022 ADDRESS: 633 E. 230th St. MARKET: Bronx ASSET TYPE: Development Site BUYER: Zelig Weiss SELLER: Al Ko BROKER: Adis Kolenovic - Kole Group (@KoleGroup) SALE PRICE: $1,500,000 BSF: 17,200 ~ PPBSF: $87 NOTE FROM BROKER: "I focus on business relationships not commissions, a simple business dinner at Rocco's Steakhouse can move mountains!"

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
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