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The Cheyleen Family Sells Development Site In Williamsburg Brooklyn For $2.7 Million With Mike Davis As Seller's Rep

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SOLD
$2,700,000
Donal Flaherty
Corey Haynes
+ 2

New York

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Development Site3,210 SF
Sold 09/09/2024
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Property Image
SOLD

The Cheyleen Family Sells Development Site In Williamsburg Brooklyn For $2.7 Million With Mike Davis As Seller's Rep

193 Withers Street

See Similar Deals
Development Site3,210 SF
Sold 09/09/2024
Donal Flaherty
Corey Haynes
+ 2
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$841
Total Square Footage:3,210 SF
Transaction Type:Sale

The property involved in this transaction is a development site located at 193 Withers Street in Williamsburg, Brooklyn. The sale price for this asset was $2,700,000, with a building square footage (BSF) of 6,420, resulting in a price per building square foot (PPBSF) of $420. The site has a total square footage (SF) of 3,210, leading to a price per square foot (PPSF) of $841.

Summary of transaction details:

This transaction involved multiple representatives from the buyer's side, specifically the team from Investment Property Realty Group (IPRG), consisting of Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde. The seller was represented by Mike Davis from Compass, ensuring that both parties had professional guidance throughout the process.

Players

Corey Haynes
62 deals$228M volume(718) 360-1942
BROKER

Derek Bestreich
Investment Property Realty Group (IPRG)
312 deals$1.1B volume(718) 360-8802
BROKER

Donal Flaherty
Investment Property Realty Group (IPRG)
101 deals$367.7M volume(718) 360-8823
BROKER

Luke Sproviero
Investment Property Realty Group (IPRG)
222 deals$848.7M volume
BROKER

Michael (Mike) Davis
Compass
1 deal$2.7M volume(917) 445-8500
BROKER

Details

SOLD
IMAGE: Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes & Mike Davis DATE: 09/09/2024 ADDRESS: 193 Withers Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Development Site SELLER: The Cheyleen Family BUYER'S REP: Derek Bestreich, Luke Sproviero (@LukeSproviero), Donal Flaherty (@DonalFlaherty1) , Corey Haynes (@Corey_Haynes), Thomas Ventura (@Tom_Ventura29) & Sal Monteverde (@Monteverde_NYC) - Investment Property Realty Group (IPRG) (@IPRG_NY) SELLER'S REP: Mike Davis (@MikeithDavis) - Compass (@Compass) SALE PRICE: $2,700,000 BSF: 6,420 ~ PPBSF: $420 SF: 3,210 ~ PPSF: $841

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
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