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183A 13th St, Brooklyn, NY ...

Sam Brach Acquires Development Site In Gowanus, Brooklyn For $1.47M
SOLDDevelopment Site

Sam Brach Acquires Development Site In Gowanus, Brooklyn For $1.47M

183A 13th St, Brooklyn, NY 11215, USA

$1,470,000

$29/SF

Building Size

50,000 SF

Asset Type

Development Site

Closing

Jan 13, 2020

AI

The development site located at 183A 13th Street in Gowanus, Brooklyn has been sold for a sale price of $1,470,000. The property offers a total buildable square footage (BSF) of 5,000 square feet, resulting in a price per buildable square footage (PPBSF) of $294.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,470,000
  • Address: 183A 13th Street
  • Market: Gowanus, Brooklyn
  • BSF: 5,000
  • PPBSF: $294

The seller of the property was Philip Scafuri, while the buyer was Sam Brach. The transaction was facilitated by the Bestreich Realty Group (BRG) with Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring representing the buyer and seller.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$627.2M

vol

146 deals

Broker

Philip J. Scafuri

Seller

$7.2M

vol

2 deals

Seller

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

10.79%

Cash-on-Cash

-3.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93