Updated Nov 22, 2023
Nouri Arazi Acquires Development Site In Sheepshead Bay, Brooklyn For $780K
2233 East 14th Street, Sheepshead Bay, Brooklyn, NY, USA
$780,000
$312/SF
Building Size
2,500 SF
Asset Type
Development Site
Closing
Dec 13, 2018
About this deal
AI
A development site located at 2233 East 14th Street in Sheepshead Bay, Brooklyn, was recently sold for $780,000. The property spans a total of 2,250 square feet, with a price per square foot of $346.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $780,000
- Address: 2233 East 14th Street, Sheepshead Bay, Brooklyn
- Market: Sheepshead Bay, Brooklyn
- BSF: 2,250
- PPSF: $346
The seller of the property was Joseph Falconieri, while the buyer was Nouri Arazi. The deal was facilitated by broker Matt Zeltser from Elite Connect Real Estate.
On the Map
$780,000
$312/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
20.34%
Cash-on-Cash
-5.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93