Mark Stagg Acquires Development Site In The Bronx For $2.96M
SOLD
$2,960,000
New York
See Similar DealsDevelopment Site337,980 SF
Sold 06/12/2020
SOLD
Mark Stagg Acquires Development Site In The Bronx For $2.96M
915 Elsmere Pl, The Bronx, NY 10460, USA
See Similar DealsDevelopment Site337,980 SF
Sold 06/12/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$8
Total Square Footage:337,980 SF
Transaction Type:Sale
A development site located at 915 Elsmere Place in The Bronx has been sold for $2,960,000. The site spans a total of 33,798 square feet and has a price per buildable square foot (PPBSF) of $87.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,960,000
- Address: 915 Elsmere Place
- Market: The Bronx
- Building Square Footage: 33,798
- Price per Buildable Square Foot: $87
The buyer of the property is Mark Stagg. The deal was facilitated by Ryan Perkoski and John Martisch from RPR Ventures.
Note: The building on the site has the potential to be developed up to 50,400 square feet, including a community facility.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$157,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,516.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,031.91
Annual Debt Service$168,382.92
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