Newmark Brokers Facilitate $24.37M Sheepshead Bay Development Site Sale
SOLD
$24,371,125
New York
See Similar DealsDevelopment Site36,000 SF
Sold 05/23/2024
SOLD
Newmark Brokers Facilitate $24.37M Sheepshead Bay Development Site Sale
2134 Coyle Street
See Similar DealsDevelopment Site36,000 SF
Sold 05/23/2024
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$677
Total Square Footage:36,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,299,793.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$86,585.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$115,531.57
Annual Debt Service$1,386,378.79
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