Updated Oct 19, 2026
Rivington Company Acquires Development Site In Bedford-Stuyvesant For $17M
122 Sanford Street, Bedford-Stuyvesant, Brooklyn, NY, USA
$17,000,000
$166/SF
Building Size
102,412 SF
Asset Type
Development Site
Closing
Sep 22, 2021
About this deal
AI
The development site located at 122 Sandford Street, 733 Myrtle Avenue, and 727 Myrtle Avenue in Bedford-Stuyvesant has been sold for $17,000,000. The property has a lot size of 1,500 and is zoned as R7D, C2-4, M1-1. The building has a total square footage of 102,412, resulting in a price per square foot of $165. The previous sale of the property took place on December 19, 2019, for $1,133,275. An alteration permit was issued on June 24, 2020.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $17,000,000
- Buyer: Rivington Company
- Seller: Leviathan Capital
- Market: Bedford-Stuyvesant
- Zoning: R7D, C2-4, M1-1
- Building Square Footage: 102,412
- Price per Square Foot: $165
- Lot Size: 1,500
- Last Sale Price: $1,133,275 (12/19/2019)
- Permits: Alteration 3 (06/24/2020)
Rivington Company represented the buyer in the transaction.
On the Map
$17,000,000
$166/SF
Development Site
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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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93