Tuzzolo Family Sells Paved Parking Lot In Williamsburg For $2 Million With Brokers Benjamin Vago & Sean R. Kelly
201 Varet Street
$2,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 25, 2024
AI
The transaction involved a paved parking lot located at 201 Varet Street in the Williamsburg market. The property sold for $2,000,000, with a price per square foot of $400.
Summary of transaction details:
- Property Type: Paved Parking Lot
- Transaction Amount: $2,000,000
- Address: 201 Varet Street
- Market: Williamsburg
- Seller: Tuzzolo family
- Brokers: Benjamin Vago & Sean R. Kelly - Ariel Property Advisors
Benjamin Vago and Sean R. Kelly represented the seller, the Tuzzolo family, in this transaction. Their collaboration underscores the role of brokerage in facilitating the deal within the competitive real estate market of Williamsburg.
Players
Brooklyn 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93