EDRE Development Acquires Development Site On 106 N 1st St, Brooklyn For $13M
106 N 1st St, New York, NY, 11249
$13,000,000
$1,168/SF
Building Size
11,125 SF
Asset Type
Development Site
Closing
Jun 21, 2021
AI
The property asset involved in this transaction is a development site located at 106 N 1st St, New York, NY, 11249, in the Brooklyn market. The transaction price was $13,000,000.00, and the total square footage of the site is 11,125 SF.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $13,000,000.00
- Address: 106 N 1st St, New York, NY, 11249
- Market: Brooklyn
- Square Footage: 11,125 SF
- Seller's Representatives: Matthew Davis-Cushman & Wakefield, Sean Kelly-CBRE
- Buyer: EDRE Development
The deal involved multiple representatives, with Matthew Davis from Cushman & Wakefield and Sean Kelly from CBRE representing the seller. The buyer of the property was EDRE Development, completing the transaction successfully.
Players
Brooklyn 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