Updated Oct 29, 2024
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
About this deal
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.
On the Map
$11,900,000
$68/SF
Development Site
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Players
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
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93