Carroll Gardens Enterprises Acquires Development Site In Gowanus, Brooklyn For $19.8M
159 3rd Avenue, Brooklyn, New York 11217, United States
$19,800,000
$279/SF
Building Size
70,800 SF
Asset Type
Development Site
Closing
May 12, 2022
AI
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
New York 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
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93