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!"
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