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Yossi Rubin Acquires Development Site In Brooklyn's Flatbush For $2.27M

Property Image
SOLD
$2,270,000
Ariel Benyacov
Steven Westreich

New York

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Development Site17,649 SF
Sold
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Property Image
SOLD

Yossi Rubin Acquires Development Site In Brooklyn's Flatbush For $2.27M

191 Veronica Place, Little Caribbean, Brooklyn, NY, USA

See Similar Deals
Development Site17,649 SF
Sold
Ariel Benyacov
Steven Westreich
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$128
Total Square Footage:17649 SF
Transaction Type:Sale

The development site located at 191-193 Veronica Pl in Brooklyn's Flatbush neighborhood has been sold for a total of $2,270,000. The property was purchased by Yossi Rubin from the Living Trust of Horace K Michael and Delphia Michael. The sale was facilitated by the brokers from Westbridge Realty Group, Steven Westreich and Ari Benyacov.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,270,000
  • Address: 191-193 Veronica Pl, Brooklyn, Flatbush
  • Market: Brooklyn, Flatbush
  • Seller: Living Trust of Horace K Michael & Delphia Michael
  • Buyer: Yossi Rubin
  • Brokers: Westbridge Realty Group - Steven Westreich & Ari Benyacov

The development site has a building square footage of 17,649, resulting in a price per buildable square footage of $128. The acquisition offers significant potential for development in the thriving Brooklyn market.

Players

Ariel Benyacov
Westbridge Realty Group
Ariel Benyacov
4 deals$31.1M volume(347) 988-8063
BROKER
Steven Westreich
Westbridge Realty Group
Steven Westreich
19 deals$118.1M volume
BROKER

Details

SOLD
IMAGE: Ari Benyacov & Steven Westreich DATE: 05/08/2019 ADDRESS: 191-193 Veronica Pl MARKET: Brooklyn, Flatbush ASSET TYPE: Development Site SELLER: Living Trust of Horace K Michael & Delphia Michael BUYER: Yossi Rubin BROKERS: Westbridge Realty Group: - Steven Westreich & Ari Benyacov SALE PRICE: $2,270,000 BSF: 17,649 ~ PPBSF: $128

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$121,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,064.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,760.96
Annual Debt Service$129,131.50