Development Site In Williamsburg Sold For $42.5M With Brokers Daniel Lebor & Dan Marks - TerraCRG
SOLD
$42,500,000
New York
See Similar DealsCommercial8,525 SF
Sold 03/22/2022
SOLD
Development Site In Williamsburg Sold For $42.5M With Brokers Daniel Lebor & Dan Marks - TerraCRG
575 Grand Street, Brooklyn, New York 11211, United States
See Similar DealsCommercial8,525 SF
Sold 03/22/2022
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$4,985
Total Square Footage:8,525 SF
Transaction Type:Sale
A development site located at 575 Grand St. in Williamsburg was recently sold for a transaction amount of $42,500,000. The property has a building square footage (BSF) of 110,000 and a price per building square footage (PPBSF) of $386.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $42,500,000
- Address: 575 Grand St.
- Market: Williamsburg
- BSF: 110,000
- PPBSF: $386
The sale was facilitated by Daniel Lebor & Dan Marks from TerraCRG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$150,993.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$201,471.68
Annual Debt Service$2,417,660.19
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