Harel Edery Acquires Development Site In Williamsburg, Brooklyn For $13M
102 North 1st Street, Williamsburg, Brooklyn, NY, USA
$13,000,000
$394/SF
Building Size
32,919 SF
Asset Type
Development Site
Closing
May 5, 2021
AI
A development site located at 102 N. 1st Street and 106 N. 1st Street in Williamsburg, Brooklyn has been sold for a price of $13,000,000. The property spans a lot size of 11,125 square feet, with dimensions measuring 134.71' x 87.17'. The asset falls under the zoning regulations of M1-2/R6A, MX-8, making it suitable for development purposes.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,000,000
- Market: Williamsburg, Brooklyn
- Zoning: M1-2/R6A, MX-8
- Buyer: Harel Edery
- Seller: Robert Loeffler
- Brokers: Matt Davis & Sean R. Kelly Esq., represented by ArielPA.NYC
- BSF: 32,919
- PPBSF: $395
The buyer, Harel Edery, acquired the property from the seller, Robert Loeffler. The transaction was facilitated by brokers Matt Davis and Sean R. Kelly Esq., represented by ArielPA.NYC. The deal closed on May 6, 2021, marking an important milestone in the Williamsburg, Brooklyn real estate market.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93