Abe Betesh & Joey Betesh Acquire Development Site On Kings Highway, Brooklyn For $4.8M
SOLD
$4,800,000
New York
See Similar DealsDevelopment Site17,425 SF
Sold 03/23/2021
SOLD
Abe Betesh & Joey Betesh Acquire Development Site On Kings Highway, Brooklyn For $4.8M
166-174 Kings Highway, Brooklyn, NY, USA
See Similar DealsDevelopment Site17,425 SF
Sold 03/23/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$275
Total Square Footage:17,425 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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