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860 East 147th Street

Ariel Property Advisors Handles $2.7M Sale Of Development Site In Mott Haven
SOLDDevelopment Site

Ariel Property Advisors Handles $2.7M Sale Of Development Site In Mott Haven

860 East 147th Street

$2,700,000

Building Size

Asset Type

Development Site

Closing

Apr 3, 2024

AI

The development site located at 860 East 147th Street in Mott Haven, South Bronx, was recently sold for $2,700,000. The property spans 43,460 square feet, resulting in a per-square-foot price of $62.

Summary of transaction details:

Daniel Mahfar, Jason M. Gold, and Victor Sozio from Ariel Property Advisors facilitated the sale of the property. They played a vital role in ensuring the successful completion of the transaction, showcasing their expertise in the real estate market.

Players

Daniel Mahfar

Ariel Property Advisors

Broker

$753M

vol

42 deals

Broker

Bronx 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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93