Nouri Arazi Acquires Development Site In Sheepshead Bay, Brooklyn For $780K
SOLD
$780,000
New York
See Similar DealsDevelopment Site2,500 SF
Sold 12/14/2018
SOLD
Nouri Arazi Acquires Development Site In Sheepshead Bay, Brooklyn For $780K
2233 East 14th Street, Sheepshead Bay, Brooklyn, NY, USA
See Similar DealsDevelopment Site2,500 SF
Sold 12/14/2018
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$312
Total Square Footage:2,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$41,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,771.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,697.60
Annual Debt Service$44,371.18
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