Updated Oct 29, 2026
SALE IMAGE: Michael A
2185 Coyle Street
$37,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 15, 2026
About this deal
AI
The property involved in this transaction is a development site located at 2185 Coyle Street in the Sheepshead Bay market. The sale was executed for a total amount of $37,000,000. The building has an approximate total square footage (BSF) of 408,400, resulting in a price per square foot (PPBSF) of $90.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $37,000,000
- Address: 2185 Coyle Street
- Market: Sheepshead Bay
- BSF: 408,400
- PPBSF: $90
- Seller: Steve Hornstock, Randy Modell, AAG Management
- Broker Representatives: Victor Sozio, Shimon Shkury, Michael A. Tortorici, Sean R. Kelly, Esq., Remi Mandell - Ariel Property Advisors
The transaction was facilitated by multiple broker representatives from Ariel Property Advisors, including Victor Sozio, Shimon Shkury, Michael A. Tortorici, Sean R. Kelly, Esq., and Remi Mandell. Their involvement reflects the collaborative efforts of experienced professionals in the real estate sector, ensuring a smooth transaction process for the sellers Steve Hornstock, Randy Modell, and AAG Management.
On the Map
$37,000,000
Development Site
View full map
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse Brooklyn development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93