Updated Oct 10, 2026
Interborough Develolmental And Consultation Center Acquires Canarsie Development Site For $4M
1285 Rockaway Avenue, Canarsie, Brooklyn, NY, USA
$4,000,000
$174/SF
Building Size
22,950 SF
Asset Type
Development Site
Closing
Jan 14, 2019
About this deal
AI
An development site located at 1285 Rockaway Ave in Canarsie, BK has been sold for a price of $4,000,000. The property has a buildable square footage (BSF) of 22,950, resulting in a price per buildable square foot (PPBSF) of $174.
Summary of transaction details:
- Property Type: Development Site
- Date: 01/15/2019
- Market: Canarsie, BK
- Seller: Randolf Jackson - Referee for Dormitory Authority of New York
- Buyer: Interborough Develolmental and Consultation Center - Stephen Gersten
- Broker: Vadim Atbashyan @carealtyinc
The seller in this transaction is Randolf Jackson, who is the referee for the Dormitory Authority of New York. The buyer is the Interborough Develolmental and Consultation Center, represented by Stephen Gersten. The sale was facilitated by broker Vadim Atbashyan from @carealtyinc.
On the Map
$4,000,000
$174/SF
Development Site
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Players
Brooklyn Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93