Updated Apr 30, 2024
Gemini Rosemont Acquires Development Site In Williamsburg, Brooklyn For $18.2M
167 N 1st St, Brooklyn, NY 11211, USA
$18,200,000
$48/SF
Building Size
374,410 SF
Asset Type
Development Site
Closing
Mar 5, 2020
About this deal
AI
A development site located at 167 N 1st Street in Williamsburg, Brooklyn has been sold. The property was listed with an asking price of $18,900,000 and ultimately sold for $18,200,000. The site has a buildable square footage (BSF) of 37,441, resulting in a price per buildable square footage (PPBSF) of $486.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $18,200,000
- Address: 167 N 1st Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Asking Price: $18,900,000
- BSF: 37,441
- PPBSF: $486
The seller of the property is Stanislaw Rys, while the buyer is Gemini Rosemont. The deal was facilitated by brokers Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, and Patrick Madigan.
On the Map
$18,200,000
$48/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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93