Ariel Property Advisors Handles $2.7M Sale Of Development Site In Mott Haven
SOLD
$2,700,000
New York
See Similar DealsDevelopment Site
Sold 04/03/2024
SOLD
Ariel Property Advisors Handles $2.7M Sale Of Development Site In Mott Haven
860 East 147th Street
See Similar DealsDevelopment Site
Sold 04/03/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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:
- Property Type: Development Site
- Transaction Amount: $2,700,000
- Address: 860 East 147th Street
- Market: Mott Haven, South Bronx
- BSF: 43,460
- PPBSF: $62
- Brokers: Daniel Mahfar, Jason M. Gold & Victor Sozio - Ariel Property Advisors
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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