Hello Living - Eli Karp Sells Development Site In Brownsville For $5M
203 Sutter Avenue, Brooklyn, New York 11212, United States
$5,000,000
$87/SF
Building Size
56,964 SF
Asset Type
Development Site
Closing
Aug 17, 2022
AI
A development site located at 203 Sutter Avenue in Brownsville has been sold for $5,000,000. The transaction was completed on August 18, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,000,000
- Address: 203 Sutter Avenue
- Market: Brownsville
The buyer of the property was Mordechai Kohn, while the seller was Hello Living represented by Eli Karp.
The development site consists of 53 units with a price per unit (PPU) of $94,339. The total building square footage (BSF) is 56,964, resulting in a price per BSF (PPBSF) of $87.
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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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93