Red Rock Investments Acquires Development Site In Park Slope For $6.45M
SOLD
$6,450,000
+ 1
New York
See Similar DealsDevelopment Site
Sold 01/31/2023
SOLD
Red Rock Investments Acquires Development Site In Park Slope For $6.45M
207 5th Avenue
See Similar DealsDevelopment Site
Sold 01/31/2023
+ 1
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$343,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,915.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,576.29
Annual Debt Service$366,915.49
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