Blue Elm NY Acquires Development Site In Brownsville For $700K
SOLD
$700,000
New York
See Similar DealsDevelopment Site7,722 SF
Sold 03/15/2022
SOLD
Blue Elm NY Acquires Development Site In Brownsville For $700K
1319 East New York Avenue, Brooklyn, New York 11212, United States
See Similar DealsDevelopment Site7,722 SF
Sold 03/15/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$90
Total Square Footage:7,722 SF
Transaction Type:Sale
A development site located at 1319 E. New York Ave. in Brownsville has been sold for $700,000. The property spans a total of 7,722 square feet, resulting in a price per square foot of $90. Michael Murphy of B6 Real Estate Advisors represented both the buyer, Blue Elm NY, and the seller, Edward Brown Jr., in the transaction.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $700,000
- Address: 1319 E. New York Ave.
- Market: Brownsville
Blue Elm NY, represented by Lazar Katz, acquired the property from Edward Brown Jr. The deal was facilitated by Michael Murphy of B6 Real Estate Advisors, who acted as the broker for both parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$37,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,486.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,318.36
Annual Debt Service$39,820.29
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