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96 South 9th Street, Brookl...

Hirshmark Capital Acquires Development Site In Williamsburg For $11.5M
FINANCEDDevelopment Site

Hirshmark Capital Acquires Development Site In Williamsburg For $11.5M

96 South 9th Street, Brooklyn, New York 11249, United States

$11,500,000

$270/SF

Building Size

42,525 SF

Asset Type

Development Site

Closing

Jul 25, 2022

AI

The development site located at 96-100 S. 9th St. in Williamsburg was recently involved in a closed transaction. With a buildable square footage (BSF) of 36,500, this development site offers great potential for future construction projects.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $11,500,000
  • Address: 96-100 S. 9th St.
  • Market: Williamsburg
  • Lender: Hirshmark Capital
  • Landlord: Michael Weitzman

Bert R. Dweck, representing Hirshmark Capital, played a significant role in this transaction. As the broker, Bert R. Dweck facilitated the deal between the lender and the landlord. His expertise and negotiation skills were instrumental in bringing the parties together and ensuring a successful acquisition.

Players

Max Ralby

Newmark

Broker

$3.8B

vol

74 deals

Broker
HKS Real Estate Advisors
HKS Real Estate AdvisorsBrokerage
Hirshmark Capital
Hirshmark CapitalLender

Michael Weitzman

Double U Realty

Landlord

$218.1M

vol

12 deals

Landlord

New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.38%

Cash-on-Cash

-0.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93