Green Street Group Acquires Development Site In Bushwick, Brooklyn For $1M
140 Central Avenue
$1,000,000
$181/SF
Building Size
5,500 SF
Asset Type
Development Site
Closing
Oct 26, 2020
AI
A development site located at 140 Central Avenue in Bushwick, Brooklyn was recently sold for $1,000,000. The property spans approximately 5,500 square feet and is zoned as R6/C1-3. The site was previously sold for $80,000 in March 2003.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $1,000,000
- Address: 140 Central Avenue
- Market: Bushwick, Brooklyn
- Zoning: R6/C1-3
- Buyer: Green Street Group - Joshua Greenberg, Warren Silverman
- Seller: Dong Koock Jung
- Brokers: Bryan Kirk, DJ Johnston, Robert Moore (6RealEstate @B6RealEstate_JohnstonTeam)
- BSF: 5,500
- PPBSF: $181
The deal was facilitated by brokers Bryan Kirk, DJ Johnston, and Robert Moore. The buyer, Green Street Group represented by Joshua Greenberg and Warren Silverman, acquired the development site from the seller, Dong Koock Jung.
Players
New York 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93