Azimuth Development Group Acquires Land In Bronx For $2.22M
SOLD
$2,220,000
+ 1
New York
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SOLD
Azimuth Development Group Acquires Land In Bronx For $2.22M
407 E 158th St, Bronx, NY, 10451
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+ 1
Summary
NEW YORK
Asset Type:Land
Transaction Type:Sale
The property at 407 E 158th St, Bronx, NY, 10451, is a land asset sold for $2,220,000.00. The transaction facilitated by GFI Realty Services, LLC involved the sale of two adjacent parcels in the South Bronx. The deal includes proposed plans for a twelve-story residential building with a community facility, totaling 36,000 square feet.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,220,000.00
- Market: Bronx
- Buyer: Azimuth Development Group
- Seller: Unknown
Ohad Babo and Zachary Fuchs of GFI Realty Services represented the seller in the deal, while Kobi Zamir of the same agency acted as the buyer's representative for Azimuth Development Group. Babo highlighted GFI's active presence in the Bronx, noting recent transactions aside from this sale. The seller's representative, Peter Brooke, was also part of the negotiation for the sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$118,399.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,887.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,523.93
Annual Debt Service$126,287.19
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