Updated May 12, 2025
Urban Standard Capital Provides $1.25M Loan For Development Site In Crown Heights, Brooklyn
311 Eastern Pkwy, Brooklyn, NY 11238, USA
$1,250,000
$14/SF
Building Size
89,600 SF
Asset Type
Development Site
Closing
May 31, 2020
About this deal
AI
A development site located at 311 Eastern Parkway in Crown Heights, Brooklyn, has been sold in a closed transaction. The property spans 8,960 square feet and consists of 7 units. The deal was facilitated by Charlie Brosens, Seth Weissman, and Omar Slowe.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,250,000
- Address: 311 Eastern Parkway, Crown Heights, Brooklyn
- Market: Crown Heights, Brooklyn
- Lender: Urban Standard Capital
- Landlord: Omar Slowe
- Square footage: 8,960
- Units: 7
Omar Slowe, representing the landlord, played a crucial role in the transaction. Additional details about the buyer, seller, and any brokers involved were not provided.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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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