Updated Oct 29, 2024
Camber Property Group And Slate Property Group Acquire Development Site In Bronx For $4.24M
909 E Tremont Ave, The Bronx, NY 10460, USA
Building Size
77,000 SF
Asset Type
Development Site
Closing
Nov 28, 2020
About this deal
AI
The development site located at 909-913 East Tremont Avenue in Bronx, New York has been sold in a closed transaction. The property is a development site with a total square footage of approximately 77,000 bsf. The transaction price for this property was $4,240,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,240,000
- Address: 909-913 East Tremont Avenue, Bronx, New York
- Market: Bronx
- Seller: RED Xanadu Equities
- Buyer: Camber Property Group – Rick Gropper and Andrew Moelis JV Slate Property Group – Martin Nussbaum and David Schwartz John Rivera
The buyer of the property is a joint venture between Camber Property Group represented by Rick Gropper and Andrew Moelis, and Slate Property Group represented by Martin Nussbaum and David Schwartz. The seller of the property is RED Xanadu Equities.
New York 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93