Chananya Bineth Acquires Development Site In Brownsville, Brooklyn For $3.8M
1655 E New York Ave Brooklyn, NY 11212, USA
$3,750,000
$116/SF
Building Size
32,255 SF
Asset Type
Development Site
Closing
Jul 18, 2023
AI
Chananya Bineth has purchased a development site in Brownsville, Brooklyn for $3.8 million. The site includes the development parcel located at 1655 East New York Avenue, along with five other parcels. The total buildable square footage of the site is 32,255, resulting in a price per square foot of $116.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,750,000
- Address: 1655 East New York Avenue, Brownsville, Brooklyn
- Market: Brownsville, Brooklyn
- Buyer: Chananya Bineth
- Seller: Arsen Yakubov
The seller in this transaction is Arsen Yakubov. The purchaser, Chananya Bineth, has acquired the development site that includes the parcel at 1655 East New York Avenue. This purchase is a significant investment opportunity in the Brownsville, Brooklyn market.
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
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93