Updated Oct 28, 2024
Kinetic Light Acquires Development Site In Williamsburg For $8.1M
166 North 12th Street, Brooklyn, New York 11249, United States
$8,100,000
$600/SF
Building Size
13,500 SF
Asset Type
Development Site
Closing
Jun 20, 2022
About this deal
AI
The development site located at 166 N. 12th St. in Williamsburg has been sold for $8,100,000. The property offers a total buildable square footage (BSF) of 13,500, resulting in a price per buildable square foot (PPBSF) of $600. The transaction took place on 06/21/2022 and the buyer is Kinetic Light, while Stable Art Corp. acted as the seller.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,100,000
- BSF: 13,500
- PPBSF: $600
- Address: 166 N. 12th St.
- Market: Williamsburg
Win Brown, from the brokerage agency Win Brown, represented the buyer in this transaction.
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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93