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104 E 53rd St, New York, NY...

Sam Eshaghoff, Brandon Thomas, And Bobby Shamsian Acquire Development Site In East Flatbush, Brooklyn For $1.06M
SOLDDevelopment Site

Sam Eshaghoff, Brandon Thomas, And Bobby Shamsian Acquire Development Site In East Flatbush, Brooklyn For $1.06M

104 E 53rd St, New York, NY 10022, USA

$1,060,000

$88/SF

Building Size

12,000 SF

Asset Type

Development Site

Closing

Oct 1, 2019

AI

The development site located at 104 East 53rd Street in East Flatbush, Brooklyn, has been sold in a closed transaction. The property was acquired for a sale price of $1,060,000. With a building square footage (BSF) of 12,000, the price per buildable square foot (PPBSF) amounts to $88.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,060,000
  • Address: 104 East 53rd Street, East Flatbush, Brooklyn
  • Market: East Flatbush, Brooklyn

In this deal, the seller is Eddie Sachar. On the buyer's side, Sam Eshaghoff, Brandon Thomas, and Bobby Shamsian successfully completed the transaction. Neer Sachar from Venture Capital Properties acted as the broker in the deal. The legal representation in this transaction was handled by @RealEstateESQ.

Note that @Eshaghoff, the representative of @WestEggDevelopment, has recently...

Players

Neer Sachar

Sunrise Equities

Broker

$18.1M

vol

13 deals

Broker

Sam Eshaghoff

Buyer

$21M

vol

4 deals

Buyer
SE
Sunrise EquitiesSeller

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

14.97%

Cash-on-Cash

-4.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93