Eli Karp's ElloLiving Acquires Development Site In Bronx, NY For $11.9M
998 Washington Avenue, Brooklyn, NY, 11225, USA
$11,900,000
$68/SF
Building Size
172,730 SF
Asset Type
Development Site
Closing
Apr 24, 2019
AI
A development site located at 998-1010 & 1037-1049 Washington Ave in Bronx, NY, has been sold in a transaction that closed on 04/25/2019. The property, with a total buildable square footage of 172,730, was sold for a price of $11.9M, resulting in a price per square foot of $68.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11.9M
- Address: 998-1010 & 1037-1049 Washington Ave, Bronx, NY
- Market: Bronx, NY
- Total BSF: 172,730
- Seller: Daniel Florio - Grad Realty
- Buyer: Eli Karp - elloLiving
- Brokers: Daniel Rahmani & Roni Soleimani - CPPRE
The sale was facilitated by the brokers Daniel Rahmani and Roni Soleimani from CPPRE, who represented the seller and the buyer respectively in the transaction.
Players
New York 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
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93