CW Realty Acquires Development Site In Williamsburg For $24.7M
134 Hope St, Brooklyn, NY 11211, USA
$24,700,000
$34/SF
Building Size
706,850 SF
Asset Type
Development Site
Closing
Jan 14, 2020
AI
A development site located at 134 Hope Street in Williamsburg has been sold for $24,700,000. The property spans a total of 70,685 square feet, and the price per square foot comes out to $349. The site is planned for the construction of 100 units, with each unit costing approximately $247,000.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $24,700,000
- Address: 134 Hope Street
- Market: Williamsburg
- Building Square Footage: 70,685
- Price Per Square Foot: $349
- Number of Units: 100
- Price Per Unit: $247,000
The buyer of the property is Cheskie Weisz, representing CW Realty. The seller of the property is Heatherwood. The deal was facilitated by Marcus & Millichap, with Said Boukhalfa representing the brokerage.
Players
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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93