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Watermark Capital Acquires Development Site In Downtown Brooklyn For $15M

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SOLD
$15,000,000
Daniel (Dan) O'Brien
Caroline Hodes
+ 1

New York

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Development Site
Sold 06/27/2024
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Property Image
SOLD

Watermark Capital Acquires Development Site In Downtown Brooklyn For $15M

144 Saint Felix Street

See Similar Deals
Development Site
Sold 06/27/2024
Daniel (Dan) O'Brien
Caroline Hodes
+ 1
Contact now

Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

Located at 144 Saint Felix Street in Downtown Brooklyn, the property involved in the transaction is a Development Site. The sale price for the asset was $15,000,000.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $15,000,000
  • Buyer: Watermark Capital
  • Seller: Hanson Place Central United Methodist Church
  • Buyer's Representatives: Caroline Hodes, Daniel O'Brien & Robbie Ferman - Newmark
  • Seller's Representative: Geoffrey Newman - Savills
  • Date: 06/27/2024
  • Market: Downtown Brooklyn

The deal's key individuals and companies involved in the transaction include Watermark Capital as the buyer and Hanson Place Central United Methodist Church as the seller. The buyer's representatives were Caroline Hodes, Daniel O'Brien, and Robbie Ferman from Newmark, while Geoffrey Newman from Savills represented the seller.

Players

Caroline Hodes
93 deals$1.8B volume(516) 263-9404
BROKER

Robert (Robbie) Ferman
Newmark
28 deals$299.6M volume(212) 655-0695
BROKER

Daniel (Dan) O'Brien
Newmark
145 deals$4.6B volume(212) 698-5584
BROKER

Geoffrey Newman
Savills
2 deals$30M volume(212) 326-1006
BROKER

Details

SOLD
IMAGE: Robbie Ferman, Daniel O'Brien, Caroline Hodes & Geoffrey Newman DATE: 06/27/2024 ADDRESS: 144 Saint Felix Street MARKET: Downtown Brooklyn ASSET TYPE: Development Site BUYER: Watermark Capital SELLER: Hanson Place Central United Methodist Church BUYER'S REP: Caroline Hodes (@CarolineHodes), Daniel O'Brien & Robbie Ferman (@Robbie_Ferman_RE) - Newmark (@Newmark) SELLER'S REP: Geoffrey Newman - Savills (@Savills) SALE PRICE: $15,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$799,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83