Newmark Brokers Facilitate $24.37M Sheepshead Bay Development Site Sale
2134 Coyle Street
$24,371,125
$677/SF
Building Size
36,000 SF
Asset Type
Development Site
Closing
May 23, 2024
AI
The property at 2134 Coyle Street in Sheepshead Bay, Brooklyn, was sold for $24,371,125. The development site spans 36,000 square feet, resulting in a price per square foot of $677. With a buildable square footage of 108,000, the price per buildable square foot was $226.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $24,371,125
- Address: 2134 Coyle Street
- Market: Sheepshead Bay, Brooklyn
- Buyer's Rep: David Behin, Daniel O'Brien, Caroline Hodes - Newmark
- Seller's Rep: SPR Group
The buyer's representatives in this deal were David Behin, Daniel O'Brien, and Caroline Hodes from Newmark, while the seller was represented by SPR Group.
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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93