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Interborough Develolmental And Consultation Center Acquires Canarsie Development Site For $4M

Property Image
SOLD
$4,000,000

New York

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Development Site22,950 SF
Sold 01/15/2019
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Property Image
SOLD

Interborough Develolmental And Consultation Center Acquires Canarsie Development Site For $4M

1285 Rockaway Avenue, Canarsie, Brooklyn, NY, USA

See Similar Deals
Development Site22,950 SF
Sold 01/15/2019
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$174
Total Square Footage:22,950 SF
Transaction Type:Sale

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.

Players

Vadim Atbashyan
Commercial Acquisitions Realty
Vadim Atbashyan
16 deals$46.5M volume
BROKER
IC
Interborough Developmental & Consultation Center
BUYER

Details

SOLD
IMAGE: Vadim Atbashyan DATE: 01/15/2019 ADDRESS: 1285 Rockaway Ave. MARKET: Canarsie, BK ASSET TYPE: Development Site SALE PRICE: $4,000,000 BSF: 22,950 ~ PPBSF: $174 SELLER: Randolf Jackson - Referee for Dormitory Authority of New York BUYER: Interborough Develolmental and Consultation Center - Stephen Gersten BROKER: Vadim Atbashyan @carealtyinc

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

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49