Updated Oct 29, 2024
David Duke Dweck Acquires Williamsburg Development Site For $31.1M
186 N 6th St, Brooklyn, NY 11211, USA & 186 N 6th St, Brooklyn, NY 11211, USA
Building Size
68,700 SF
Asset Type
Development Site
Closing
May 3, 2018
About this deal
AI
Located in the heart of Williamsburg, Brooklyn, a development site at 186 North 6th Street has been sold for a staggering price of $31,100,000. The property spans a total of 68,700 square feet, making it a significant asset in the area. The per square foot price for this transaction amounts to $437. The seller, Boricua College, was represented by Victor G. Alicea.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $31,100,000
- Loan Amount: $30M
- Square Footage: 68,700 sf
- Address: 186 North 6th Street, New York
- Market: Williamsburg, Brooklyn
On the buyer's side, David Duke Dweck took hold of this remarkable opportunity. Additional key individuals involved in this deal include Louis Silverman, Guthrie Garvin, Ethan Stanton, Michael Gembecki, Brendan Maddigan, and Victor G. Alicea representing the seller.
Players
New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93