Carroll Gardens Enterprises Acquires Development Site In Gowanus, Brooklyn For $19.8M
SOLD
$19,800,000
+ 3
New York
See Similar DealsDevelopment Site70,800 SF
Sold 05/13/2022
SOLD
Carroll Gardens Enterprises Acquires Development Site In Gowanus, Brooklyn For $19.8M
159 3rd Avenue, Brooklyn, New York 11217, United States
See Similar DealsDevelopment Site70,800 SF
Sold 05/13/2022
+ 3
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$279
Total Square Footage:70,800 SF
Transaction Type:Sale
A development site located at 159 3rd Ave. in Gowanus, Brooklyn has been sold for a total of $19,800,000. The property spans approximately 70,800 square feet and is classified as a development site.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $19,800,000
- Date: 05/13/2022
- Address: 159 3rd Ave., Gowanus, Brooklyn
- Market: Gowanus, Brooklyn
The buyer in this transaction is Carroll Gardens Enterprises, represented by Jacob Schwimmer. The seller is The Macchia Family. The deal was facilitated by brokers Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, and Winfield Clifford from JLL.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,056,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$70,345.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$93,862.10
Annual Debt Service$1,126,345.22
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