Updated Sep 5, 2024
Maheshand Ratani Acquires Development Site In Prospect Lefferts Gardens For $6.1M
169 Empire Blvd, Brooklyn, NY 11225, USA
$6,100,000
$254/SF
Building Size
24,000 SF
Asset Type
Development Site
Closing
Jul 28, 2019
About this deal
AI
An development site located at 169 Empire Blvd in Prospect Lefferts Gardens has been sold for a sale price of $6,100,000. The property was listed with an asking price of $6,250,000 and offers a buildable square footage (BSF) of 24,000. The price per buildable square foot (PPBSF) is $254. The transaction involved seller Sammy Shohet and buyer Maheshand Ratani.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,100,000
- Address: 169 Empire Blvd
- Market: Prospect Lefferts Gardens
- Asking Price: $6,250,000
- BSF: 24,000
- PPBSF: $254
The deal was facilitated by brokers Hirschy Zaks and Jacob Stavsky from VCPRE, representing both the buyer and seller respectively.
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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93