Updated Dec 4, 2024
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
About this deal
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.
On the Map
$24,371,125
$677/SF
Development Site
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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