Yehoshua Shamel Of GFI Realty Services Sells Development Site In East Flatbush For $4.58M
1296 New York Avenue, Brooklyn, New York 11203, United States
$4,580,000
$104/SF
Building Size
43,940 SF
Asset Type
Development Site
Closing
Dec 16, 2021
AI
A development site located at 1296-98 New York Avenue, 3408-10 Farragut Road, and 1595-97 New York Avenue in East Flatbush has been sold for a price of $4,580,000. The transaction took place on December 16, 2021. The property spans a total of 43,940 square feet, with a price per buildable square foot (PPBSF) of $104. The sale was facilitated by Yehoshua Shamel from GFI Realty Services.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,580,000
- Address: 1296-98 New York Avenue, 3408-10 Farragut Road & 1595-97 New York Avenue, East Flatbush
- Market: East Flatbush
- Builable Square Footage: 43,940 sq ft
- Price Per Buildable Square Foot (PPBSF): $104
The sale of the development site was overseen by Yehoshua Shamel, a broker from GFI Realty Services. Their involvement in the transaction highlights their expertise and knowledge in the East Flatbush market.
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.46%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93