Samuel Landau Acquires Development Site In Flatbush For $7.2M From Elliot Horowitz
SOLD
$7,200,000
New York
See Similar DealsDevelopment Site467,290 SF
Sold 12/13/2019
SOLD
Samuel Landau Acquires Development Site In Flatbush For $7.2M From Elliot Horowitz
1351 Flatbush Ave, Brooklyn, NY 11210, USA
See Similar DealsDevelopment Site467,290 SF
Sold 12/13/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$15
Total Square Footage:467,290 SF
Transaction Type:Sale
The development site located at 1351 Flatbush Avenue, 1349A Flatbush Avenue, 1349 Flatbush Avenue, 1347A Flatbush Avenue, and 1347 Flatbush Avenue in the Flatbush market has been sold for $7,200,000. The property spans a total of 46,729 square feet and has a price per buildable square foot of $154.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $7,200,000
- Address: 1351 Flatbush Avenue, 1349A Flatbush Avenue, 1349 Flatbush Avenue, 1347A Flatbush Avenue, 1347 Flatbush Avenue
- Market: Flatbush
- BSF: 46,729
- PPBSF: $154
Samuel Landau is the buyer of the property, while Elliot Horowitz acted as the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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