Updated Nov 28, 2024
Red Rock Investments Acquires Development Site In Park Slope For $6.45M
207 5th Avenue
$6,450,000
Building Size
—
Asset Type
Development Site
Closing
Jan 31, 2023
About this deal
AI
A development site located at 207 5th Avenue in Park Slope has been sold for $6,450,000. The property spans a total square footage of 477 ZFA. The transaction took place on January 31, 2023, between the seller, Urban Standard Capital, and the buyer, Red Rock Investments.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,450,000
- Address: 207 5th Avenue
- Market: Park Slope
- Seller: Urban Standard Capital
- Buyer: Red Rock Investments
- Brokers: Daniel O'Brien, Jake McGuffog, Caroline Hodes & Loren Valla - Cushman & Wakefield
Cushman & Wakefield represented both the buyer and the seller in the transaction. The deal was facilitated by brokers Daniel O'Brien, Jake McGuffog, Caroline Hodes, and Loren Valla.
On the Map
$6,450,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.46%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93