Robert Lumaj Buys Development Site At 1846-1848 Washington Avenue Bronx For $2.4M
Washington Avenue
$2,400,000
$407/SF
Building Size
5,886 SF
Asset Type
Development Site
Closing
Jun 3, 2026
AI
The development site located at 1846-1848 Washington Avenue in the Bronx has been sold for $2,400,000. The site offers a buildable square footage (BSF) of 23,544 and a price per buildable square foot (PPBSF) of $101. The total square footage (SF) of the site amounts to 5,886, with a price per square foot (PPSF) of $407.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,400,000
- Address: 1846-1848 Washington Avenue
- Market: Bronx
- Buyer: Robert Lumaj
- Seller: Darius Daniel
- Broker: Alexandre Goulet - Landair Advisors
Alexandre Goulet represented the seller Darius Daniel in this transaction, facilitating the sale process and assisting in the negotiations between the buyer and seller.
Players
Bronx 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
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93