Updated Oct 14, 2026
Chaim Fuchs Of Brooklyn Management Group Purchases Development Site In Brooklyn For $3.85M
157 North 5th Street
$3,850,000
$1,140/SF
Building Size
3,375 SF
Asset Type
Development Site
Closing
Sep 23, 2026
About this deal
AI
The property involved in this transaction is a development site located at 157 North 5th Street in Brooklyn. The sale price was $3,850,000, with a building square footage of 5,000 and a price per building square foot of $770. The site features 3,375 square feet, equating to a price per square foot of $1,140.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,850,000
- Address: 157 North 5th Street
- Market: Brooklyn
- Building Square Footage: 5,000
- Price per Building Square Foot: $770
- Square Footage: 3,375
- Price per Square Foot: $1,140
- Buyer: Chaim Fuchs - Brooklyn Management Group
- Seller: Thomas J. Gagliano
- Buyer's Representative: Andrew Levine - Invictus Property Advisors
Chaim Fuchs represented Brooklyn Management Group as the buyer, while Andrew Levine from Invictus Property Advisors acted as the buyer's representative in this transaction. The seller of the property was Thomas J. Gagliano.
On the Map
$3,850,000
$1,140/SF
Development Site
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Players
Brooklyn 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
4.12%
Cash-on-Cash
-1.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93