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
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