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Joel Zupnick Acquires Development Site In South Bronx For $3.25M

Property Image
SOLD
$3,250,000
Anthony Volman
Josh Goldflam
JZ

New York

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Development Site48,000 SF
Sold
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Property Image
SOLD

Joel Zupnick Acquires Development Site In South Bronx For $3.25M

650 Southern Blvd Bronx, NY 10455, USA

See Similar Deals
Development Site48,000 SF
Sold
Anthony Volman
Josh Goldflam
JZ
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$67
Total Square Footage:48,000 SF
Transaction Type:Sale

Located at 650 Southern Boulevard in the South Bronx, New York City, this development site was recently sold for a price of $3,250,000. The property spans 48,000 square feet and has a price per square foot of $68. The transaction took place on August 23, 2023.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,250,000
  • Address: 650 Southern Boulevard, South Bronx, New York City
  • Market: South Bronx, New York City
  • Square Footage: 48,000
  • Price per Square Foot: $68
  • Buyer: Joel Zupnick
  • Seller: Marc Pogostin, Esq.
  • Broker: Josh Goldflam & Anthony Volman - Highcap Group

The deal was facilitated by real estate brokers Josh Goldflam and Anthony Volman from Highcap Group. They represented both the buyer, Joel Zupnick, and the seller, Marc Pogostin, Esq. This transaction showcases the expertise and negotiation skills of the brokers in successfully closing the deal for the development site on Southern Boulevard.

Players

Josh Goldflam
Highcap Group
Josh Goldflam
29 deals$278.1M volume
BROKER
Anthony Volman
Highcap Group
Anthony Volman
11 deals$5.1M volume
BROKER
JZ
Joel Zupnick
5 deals$296.4M volume
BUYER

Details

SOLD
IMAGE: Josh Goldflam & Anthony Volman DATE: 08/23/2023 ADDRESS: 650 Southern Boulevard MARKET: South Bronx, New York City ASSET TYPE: Development Site BUYER: Joel Zupnick SELLER: Marc Pogostin, Esq. BROKER: Josh Goldflam & Anthony Volman - Highcap Group (@Highcap_Group) SALE PRICE: $3,250,000 SF: 48,000 ~ PPSF: $68

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90