Artlife Development Acquires Development Site In Greenpoint, BK For $4.7M
SOLD
$4,700,000
+ 2
New York
See Similar DealsDevelopment Site15,100 SF
Sold 01/31/2019
SOLD
Artlife Development Acquires Development Site In Greenpoint, BK For $4.7M
175 McGuinness Boulevard, Greenpoint, Brooklyn, NY, USA
See Similar DealsDevelopment Site15,100 SF
Sold 01/31/2019
+ 2
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$311
Total Square Footage:15,100 SF
Transaction Type:Sale
A development site located at 173-175 McGuinness Blvd in Greenpoint, Brooklyn has been sold for a price of $4.7 million. The property spans 15,100 square feet and has a price per buildable square foot of $311. The sale was finalized on January 31, 2019.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $4.7 million
- Address: 173-175 McGuinness Blvd, Greenpoint, Brooklyn
- Market: Greenpoint, BK
The seller of the development site was James Perrone. The buyer, Artlife Development, was represented by Guy Peleg. The sale was facilitated by brokers from BRG Real Estate - Derek Bestreich, Luke Sproviero, Donal Flaherty, and Hakeem Lecky.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$250,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,698.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,280.40
Annual Debt Service$267,364.77
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