Cristo Rey Brooklyn High School Sells Development Site In Brooklyn For $7.2M
1377 Brooklyn Avenue
$7,200,000
Building Size
—
Asset Type
Development Site
Closing
May 21, 2024
AI
Located at 1377 Brooklyn Avenue in Brooklyn, the development site has been sold for $7,200,000. The property spans 81,486 square feet with a price per square foot of $88. The seller of this asset was Cristo Rey Brooklyn High School.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $7,200,000
- Market: Brooklyn
- Brokers: Paul Massey - B6 Real Estate Advisors & Jermaine Pugh - Matthews Real Estate Investment Services
The sale of the property at 1377 Brooklyn Avenue was facilitated by Paul Massey from B6 Real Estate Advisors and Jermaine Pugh from Matthews Real Estate Investment Services. These brokers played a crucial role in the transaction between the seller, Cristo Rey Brooklyn High School, and the undisclosed buyer involved in this deal.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93