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Washington Avenue

Robert Lumaj Buys Development Site At 1846-1848 Washington Avenue Bronx For $2.4M
SOLDDevelopment Site

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

Alexandre Goulet

Landair Advisors

Broker

$163.2M

vol

45 deals

Broker

Robert Lumaj

Buyer

$61.5M

vol

5 deals

Buyer

Bronx 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

6.61%

Cash-on-Cash

-1.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93