Updated Oct 28, 2024
RYL Development Group Acquires Development Site In Clinton Hill, Brooklyn For $2.2M
1065 Fulton Street, Brooklyn, New York 11238, United States
$2,200,000
$291/SF
Building Size
7,552 SF
Asset Type
Development Site
Closing
Apr 4, 2022
About this deal
AI
A development site located at 1065 Fulton St. in Clinton Hill, Brooklyn has been sold. The transaction took place on 04/05/2022, with the buyer being RYL Development Group and the seller being Christopher Giancola.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,200,000
- Address: 1065 Fulton St., Clinton Hill, Brooklyn
- Market: Clinton Hill, Brooklyn
Stephen Safina and Robert Burnett from Longbrook Real Estate represented both parties in the deal.
The asking price for the development site was $2,300,000, and it was sold for $2,200,000. The total buildable square footage of the property is 7,552, resulting in a price per buildable square foot of $291.
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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93