Updated Dec 4, 2024
Titan Capital Sells Dev Site At 1308-1314 Lincoln Pl, Crown Heights, Brooklyn For $4.3M With Broker Sadya Liberow Of Asset CRG Advisors
1308-1314 Lincoln Pl
$4,300,000
Building Size
—
Asset Type
Development Site
Closing
Nov 14, 2022
About this deal
AI
The property involved in this closed transaction is a development site located at 1308-1314 Lincoln Pl in Crown Heights, Brooklyn. The property has been semi-completed and stalled since 2018. Despite facing over $400,000 in monetary violations and all permits being expired, the property was sold for a total of $4,300,000. The deal was closed within 90 days of listing, with the buyer taking on the property "as-is".
Summary of transation details
- Property Type: Dev Site
- Transaction Amount: $4,300,000
- Seller: Titan Capital
- Broker: Sadya Liberow - Asset CRG Advisors
Sadya Liberow from the Asset CRG Advisors acted as the broker for this transaction. The @liberowteam of AssetCRG successfully facilitated the sale of 1308-1314 Lincoln Pl. They were exclusively hired to market and sell the property, despite it being in a semi-completed and stalled state with expired permits and monetary violations. For more information about other stalled sites being marketed by Asset CRG Advisors, interested parties can contact Sadya Liberow at 646-363-6175 or via email at [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93