Updated Dec 21, 2023
Louis Yeung Acquires Development Site In Bushwick For $5.4M
175 Central Ave, Albany, NY 12206, USA
$5,600,000
$28/SF
Building Size
196,900 SF
Asset Type
Development Site
Closing
Jan 9, 2020
About this deal
AI
A development site located at 175 Central Avenue in Bushwick has been sold for $5,400,000. The property spans 19,690 square feet and has a price per buildable square foot (PPBSF) of $275. The asking price for the site was $5,600,000. The transaction, which involved the seller Jongyun Jung and the buyer Louis Yeung, represents a price of $275 per "as of right" buildable square foot.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $5,400,000
- Address: 175 Central Avenue
- Market: Bushwick
The deal was negotiated by Bryan Kirk, DJ Johnston, and Robert Moore who represented the buyer and seller in the transaction.
Players
City of Albany 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
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93