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2185 Coyle Street

Updated Oct 29, 2026

SALE IMAGE: Michael A
SOLDDevelopment Site

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:

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.

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$37,000,000

Development Site

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Players

Michael A. Tortorici

Ariel Property Advisors

Broker

$981.8M

vol

51 deals

Broker
Randy Modell

Randy Modell

AAG Management

Seller

$55M

vol

4 deals

Seller
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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

0.43%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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