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Arik Bar Chaim Acquires Development Site In Williamsburg, Brooklyn For $1.825M

Property Image
SOLD
$1,825,000
Thomas Ventura
Luke Sproviero
Donal Flaherty
+ 3

New York

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Development Site
Sold 07/22/2022
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Property Image
SOLD

Arik Bar Chaim Acquires Development Site In Williamsburg, Brooklyn For $1.825M

223 Frost Street

See Similar Deals
Development Site
Sold 07/22/2022
Thomas Ventura
Luke Sproviero
Donal Flaherty
+ 3
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

A development site located at 223 Frost St. in Williamsburg, Brooklyn has been sold in a recent transaction. The property, with a total square footage of 5,000 and a price per square foot of $365, was sold for a total price of $1,825,000. The sale was facilitated by Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, and Thomas Ventura of Investment Property Realty Group (IPRG).

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,825,000
  • Address: 223 Frost St., Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn

Arik Bar Chaim purchased the development site from the Piecoro Family. The deal was coordinated by the team at Investment Property Realty Group (IPRG), with Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, and Thomas Ventura acting as the brokers representing the buyer and seller.

Players

Corey Haynes
Investment Property Realty Group (IPRG)
Corey Haynes
62 deals$228M volume(718) 360-1942
BROKER
Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Donal Flaherty
Investment Property Realty Group (IPRG)
Donal Flaherty
101 deals$367.7M volume(718) 360-8823
BROKER
Luke Sproviero
Investment Property Realty Group (IPRG)
Luke Sproviero
222 deals$848.7M volume
BROKER
Thomas Ventura
Investment Property Realty Group (IPRG)
Thomas Ventura
40 deals$160.9M volume
BROKER
AC
Arik Bar Chaim
8 deals$22.2M volume
BUYER

Details

SOLD
IMAGE: POST SALE IMAGE: Derek Bestreich, Luke Sproviero & Donal Flaherty DATE: 07/22/2022 ADDRESS: 223 Frost St. MARKET: Williamsburg, Brooklyn ASSET TYPE: Development Site BUYER: Arik Bar Chaim SELLER: Piecoro Family BROKERS: Derek Bestreich, Luke Sproviero (@LukeSproviero), Donal Flaherty (@DonalFlaherty1), Corey Haynes (@Corey_Haynes) & Thomas Ventura (@Tom_Ventura29) - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $1,825,000 BSF: 5,000 ~ PPBSF: $365

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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