Updated Dec 4, 2024
Slate Property Group Acquires Development Site In Gowanus, Brooklyn For $12M
224 3rd Avenue, Brooklyn, New York 11217, United States
$12,000,000
$1,500,000/SF
Building Size
8 SF
Asset Type
Development Site
Closing
Aug 11, 2022
About this deal
AI
A development site located at 224 3rd Avenue in Gowanus, Brooklyn has been sold for a price of $12,000,000. The property spans across 8,500 square feet and has a price per square foot of $1,412. The sale was finalized on November 8, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,000,000
- Square Footage: 8,500
- Price per Square Foot: $1,412
- Address: 224 3rd Avenue, Gowanus, Brooklyn
- Market: Gowanus, Brooklyn
The buyer of the development site is Slate Property Group. The transaction was facilitated by Winfield Clifford, Brendan Maddigan, Ethan Stanton, Stephen Palmese, and Michael Mazzara from JLL acting as the brokers representing Slate Property Group.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Ethan Stanton to view all their deals.
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93