Vision Estate Holding & Kardan USA Acquire Development Site On Fulton St. For $6.325M
1213 Fulton Street, Brooklyn, NY 11216
$6,325,000
$274/SF
Building Size
23,085 SF
Asset Type
Development Site
Closing
Jan 31, 2019
AI
A development site located at 1209, 1211, and 1213 Fulton St. in Brooklyn has been sold for a price of $6.325M. The property, situated in the BK market, spans a total of 23,085 square feet with a price per buildable square foot (PPBSF) of $274. The transaction took place on 02/01/2019.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $6.325M
- Address: 1209, 1211, 1213 Fulton St.
- Market: BK
- BSF: 23,085
- PPBSF: $274
The buyer of the property is Vision Estate Holding and Kardan USA, represented by Visiondevelopment, BaruchGuttman, and BenRibiat. The seller in this transaction is Maurice Hyancinthe. The brokers involved in the deal are William Grover and Dan Greenblatt, while Shaun Riney from Marcus & Millichap served as the listing broker.
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
2.51%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93