Updated Sep 9, 2024
Investment Property Realty Group Facilitates $4.9M Sale Of Williamsburg Development Site
104 Frost Street
$4,900,000
$980/SF
Building Size
5,000 SF
Asset Type
Development Site
Closing
May 2, 2023
About this deal
AI
The development site at 104 Frost Street in Williamsburg, Brooklyn has been sold for $4,900,000. The property spans 13,500 square feet and has a price per buildable square foot (PPBSF) of $363. The sale was facilitated by Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde from Investment Property Realty Group (IPRG).
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,900,000
- Address: 104 Frost Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Seller: D'Amato Family
- Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde - Investment Property Realty Group (IPRG)
- BSF: 13,500
- PPBSF: $363
The development site has an approximated buildable square footage of 13,500 (2.7 FAR) and an approximated industrial heavy buildable square footage of 18,000 (3.6 FAR). The details of the transaction were provided by the broker involved in the deal.
Players
Market 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
3.24%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93