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
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.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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