Updated Oct 29, 2024
Abe Betesh & Joey Betesh Acquire Development Site On Kings Highway, Brooklyn For $4.8M
166-174 Kings Highway, Brooklyn, NY, USA
$4,800,000
$275/SF
Building Size
17,425 SF
Asset Type
Development Site
Closing
Mar 22, 2021
About this deal
AI
A development site located at 166-174 Kings Highway in Brooklyn has been sold for a price of $4,800,000. The property spans a lot size of 17,425 square feet. The asset falls under the R6B and C2-3 zoning designations.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,800,000
- Address: 166-174 Kings Highway, Brooklyn
- Market: Brooklyn
- Zoning: R6B, C2-3
Abe Betesh and Joey Betesh from The Abeco Organization have purchased the property from Rosemawr Management. The transaction was facilitated by Robert Frost from Signature Partners LLC.
On the Map
$4,800,000
$275/SF
Development Site
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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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93