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Shlomo Karpen Anshel Fridman Norman Strulovitch Acquire Development Site In East Flatbush For $20M
SOLD
New York
See Similar DealsDevelopment Site24,000 SF
Sold 07/10/2025
SOLD
Shlomo Karpen Anshel Fridman Norman Strulovitch Acquire Development Site In East Flatbush For $20M
224 Clarkson Avenue
See Similar DealsDevelopment Site24,000 SF
Sold 07/10/2025
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$833
Total Square Footage:24,000 SF
Transaction Type:Sale
A development site located at 224 Clarkson Avenue in East Flatbush, Brooklyn was sold for $20,000,000. The property spans 24,000 square feet, with a price per square foot of $833 and a building size factor (BSF) of 103,200, resulting in a price per BSF of $194.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 224 Clarkson Avenue
- Market: East Flatbush, Brooklyn
- Building Size Factor (BSF): 103,200
- Price per BSF: $194
- Square Footage (SF): 24,000
- Price per Square Foot (PPSF): $833
- Buyer: Shlomo Karpen, Anshel Fridman & Norman Strulovitch
- Seller: Global Asset Properties, Mehrdad Kahan & Said Makhany
Shlomo Karpen, Norman Strulovitch, and Anshel Fridman were involved in the acquisition of the property, transacting with Global Asset Properties and partners, Mehrdad Kahan and Said Makhany.
Players
SELLER
SELLER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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