Malky Feig Acquires Development Site In Borough Park, Brooklyn For $15.1M
SOLD
$15,100,000
New York
See Similar DealsDevelopment Site18 SF
Sold 06/01/2023
SOLD
Malky Feig Acquires Development Site In Borough Park, Brooklyn For $15.1M
1502 46th Street, Brooklyn, New York 11219, United States
See Similar DealsDevelopment Site18 SF
Sold 06/01/2023
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$838,888
Total Square Footage:18 SF
Transaction Type:Sale
The development site located at 1502-1504 46th Street in Borough Park, Brooklyn has been sold in a recent transaction. The property spans a total of 18,604 square feet, with a price per square foot of $812. The sale price for this transaction was $15,100,000. The buyer of the property is Malky Feig, while the seller is Jacob Fulop. The transaction took place on January 6, 2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,100,000
- Units: 8
- Price per Unit: $1,887,500
- Square Footage: 18,604
- Price per Square Foot: $812
- Market: Borough Park, Brooklyn
Malky Feig acted as the buyer in this transaction, while Jacob Fulop represented the seller. These key individuals played a significant role in the deal, ensuring its successful completion.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$805,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,647.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,581.70
Annual Debt Service$858,980.44
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