Updated Jun 23, 2026
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
About this deal
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.
On the Map
$2,400,000
$407/SF
Development Site
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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