Updated Sep 5, 2024
Arik Bar Chaim Acquires Development Site In Williamsburg, Brooklyn For $1.825M
223 Frost Street
$1,825,000
Building Size
—
Asset Type
Development Site
Closing
Jul 22, 2022
About this deal
AI
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.
On the Map
$1,825,000
Development Site
View full map
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.69%
Cash-on-Cash
-2.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93