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1037-39 North 3rd Street

Scott Scuderi Acquires Development Site On North 3rd Street In Philadelphia For $1.25M
SOLDDevelopment Site

Scott Scuderi Acquires Development Site On North 3rd Street In Philadelphia For $1.25M

1037-39 North 3rd Street

$1,250,000

Building Size

Asset Type

Development Site

Closing

Nov 30, 2022

AI

A development site located at 1037-39 North 3rd Street in Philadelphia has been sold for a price of $1,250,000. The property offers potential for future development and represents an opportunity for the buyer, Scott Scuderi, to capitalize on the growing market in Philadelphia.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,250,000
  • Address: 1037-39 North 3rd Street
  • Market: Philadelphia

Jason Kleinman and Shawn Witter, representing SDG Real Estate, facilitated the transaction between the buyer, Scott Scuderi, and the sellers, Tom Kuon, Luke Napoli, and Lara Napoli. As experienced brokers, Kleinman and Witter were able to guide the parties involved to a successful closing.

Players

Stephen Stafford

Stamm Development Group

Broker

$20.1M

vol

5 deals

Broker

PHILADELPHIA 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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93