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EDRE Development Acquires Development Site On 106 N 1st St, Brooklyn For $13M

Property Image
SOLD
$13,000,000
Matthew Davis
Sean Kelly

New York

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Development Site11,125 SF
Sold 06/21/2021
the dealplayerscompscontact
Property Image
SOLD

EDRE Development Acquires Development Site On 106 N 1st St, Brooklyn For $13M

106 N 1st St, New York, NY, 11249

See Similar Deals
Development Site11,125 SF
Sold 06/21/2021
Matthew Davis
Sean Kelly
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,168
Total Square Footage:11,125 SF
Transaction Type:Sale

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

Sean Kelly
CBRE
Sean Kelly
22 deals$860.3M volume(561) 866-3545
BROKER
Matthew Davis
Cushman & Wakefield
Matthew Davis
8 deals$62.4M volume
BROKER
ED
EDRE Development
BUYER

Details

SOLD
IMAGE: 06/21/2021 ADDRESS: 106 N 1st St, New York, NY, 11249 MARKET: Brooklyn ASSET TYPE: Development Site SELLER'S REP: Matthew Davis-Cushman & Wakefield, Sean Kelly-CBRE BUYER: EDRE Development PRICE: $13,000,000.00 SF: 11125

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$693,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59