KIPP Schools Acquires Development Site In Mott Haven For $21.7M
75 Canal Street West, West Bronx, The Bronx, NY, USA
$21,700,000
$129/SF
Building Size
168,200 SF
Asset Type
Development Site
Closing
Apr 22, 2021
AI
A development site located at 75 Canal Street West in Mott Haven has been sold for a price of $21,700,000. The property, which has a total floor area of 168,200 square feet, is situated on a lot measuring 269.33 feet by 164.17 feet. The site is zoned as M1-4/R7X and MX-13, offering potential for various development opportunities.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $21,700,000
- Address: 75 Canal Street West, Mott Haven
- Market: Mott Haven
- Zoning: M1-4/R7X, MX-13
The buyer in this transaction is KIPP Schools, while the seller is Yellow Cab Realty LLC, represented by Victor Weingarten. The deal was facilitated by brokers Robert Knakal, Jon Hageman, and Karl Brumback from JLL, as well as David Carlos from Savills.
Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93