Updated Dec 19, 2023
Jeff Shemia Acquires Development Site In Midwood For $2.6M
1916 Coney Island Avenue, Brooklyn, NY 11230, USA
$2,575,000
$335/SF
Building Size
7,686 SF
Asset Type
Development Site
Closing
Feb 14, 2019
About this deal
AI
A development site located at 1916 Coney Island Ave. in Midwood was recently sold for a price of $2,575,000. The site offers a total of 7,686 square feet of buildable area and a price per buildable square foot of $335.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,575,000
- Address: 1916 Coney Island Ave.
- Market: Midwood
- Buildable Square Feet: 7,686
- Price per Buildable Square Foot: $335
George Green acted as the seller in this transaction, while Jeff Shemia acquired the property. The deal was facilitated by Arsen Atbashyan from CA Realty Inc, who represented the buyer.
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
6.16%
Cash-on-Cash
-1.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93