Travis Stabler Acquires Development Site In Bushwick For $5.65M
21 Garden St #27, Brooklyn, NY 11206, USA
$5,650,000
$24/SF
Building Size
234,000 SF
Asset Type
Development Site
Closing
Feb 10, 2020
AI
A development site located at 21-27 Garden Street in Bushwick has been sold for a price of $5,650,000. The property has a buildable square footage (BSF) of 23,400 and the price per buildable square footage (PPBSF) is $241.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $5,650,000
- Buildable Square Footage: 23,400
- Price per Buildable Square Footage: $241
- Address: 21-27 Garden Street, Bushwick
The seller of the property is Bill Goldstein, while the buyer is Travis Stabler. Michael Ferrara from @braxrealtynyc represented the seller in this transaction, and Roni Soleimani & Josh Pomerantz from @spcapitalgroup represented the buyer.
Note: This was the first time the property traded, indicating the initial sale of the development site.
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
2.81%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93