Updated Oct 28, 2024
Al Kolenovic's AK Development Corp. Acquires Bronx Development Site For $980K
633 East 230th Street, Bronx, NY 10466
$980,000
$57/SF
Building Size
17,199 SF
Asset Type
Development Site
Closing
Oct 21, 2021
About this deal
AI
AK Development Corp. has purchased a development site located at 633 E. 230th St. in Bronx. The property, situated on a 50ft X 114.67ft lot, consists of a 3-family building. The sale took place on October 21, 2021, and the transaction was facilitated by Liran Azizian of VORO NYC.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $980,000
- BSF (Building Square Footage): 17,199
- PPBSF (Price per Building Square Foot): $56
- Number of Units: 3
- PPU (Price per Unit): $326,666
- Address: 633 E. 230th St., Bronx
- Market: Bronx
In addition to this purchase, AK Development Corp. has acquired three other development sites within the past 9 months. Liran Azizian of VORO NYC, who represented the buyer in this deal, specializes in fix 'n' flips, distressed assets, and development opportunities. For future rental inquiries, please contact Liran directly at (917)-312-0907 or [email protected].
On the Map
$980,000
$57/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
16.19%
Cash-on-Cash
-4.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93