Meridian Capital Group Brokers David Ravvin, Amit Doshi & Shallini Mehra Facilitate $5.8M Sale Of Development Site In Greenpoint, Brooklyn
SOLD
$5,800,000
New York
See Similar DealsDevelopment Site
Sold 08/17/2022
SOLD
Meridian Capital Group Brokers David Ravvin, Amit Doshi & Shallini Mehra Facilitate $5.8M Sale Of Development Site In Greenpoint, Brooklyn
15-17 Clay Street, Brooklyn, New York 11222, United States
See Similar DealsDevelopment Site
Sold 08/17/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
A development site in Greenpoint, Brooklyn has been sold for $5,800,000. The property is located at 15-17 Clay Street & 56-58 Commercial Street. The transaction took place on August 17, 2022. The asset type of the property is a development site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,800,000
The sale of this development site was facilitated by David Ravvin, Amit Doshi, and Shallini Mehra from the Meridian Capital Group. They acted as the brokers for both the buyer and the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51
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