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140 Central Avenue

Green Street Group Acquires Development Site In Bushwick, Brooklyn For $1M
SOLDDevelopment Site

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

Bryan Kirk

Matthews

Broker

$113.8M

vol

24 deals

Broker
Joshua Greenberg

Joshua Greenberg

Green Street Group

Buyer

$145.7M

vol

13 deals

Buyer
GG
Green Street GroupBuyer

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

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93