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Titan Capital Sells Dev Site At 1308-1314 Lincoln Pl, Crown Heights, Brooklyn For $4.3M With Broker Sadya Liberow Of Asset CRG Advisors

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SOLD
$4,300,000

New York

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Development Site
Sold 11/14/2022
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Property Image
SOLD

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

See Similar Deals
Development Site
Sold 11/14/2022
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

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

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

Sadya Liberow
31 deals$123.9M volume(347) 762-4055
BROKER

Titan Capital
SELLER

Details

SOLD
IMAGE: Sadya Liberow ADDRESS: 1308-1314 Lincoln Pl MARKET: Crown Heights, Brooklyn ASSET TYPE: Dev Site SELLER: Titan Capital BROKER: Sadya Liberow (@Liberowteam) (@Sadyaliberow) - Asset CRG Advisors (@AssetCRG) SALE PRICE: $4,300,000 NOTE FROM BROKER The @liberowteam of AssetCRG successfully facilitated the sale of 1308-1314 Lincoln Pl. The site has been semi-completed and stalled since 2018 and we were hired to exclusively market and sell the property. The contract was signed and closed within 90 days of listing with the buyer taking on the deal AS-IS with over $400,000 in monetary violations and all permits expired. We are currently marketing several other stalled sites, to discuss please contact: Sadya Liberow 646-363-6175 [email protected]

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

$229,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33