Ratanji Hotels Acquires Development Site On Nostrand Avenue In Midwood, Brooklyn For $6.15M
SOLD
$6,150,000
New York
See Similar DealsDevelopment Site28,000 SF
Sold 07/02/2020
SOLD
Ratanji Hotels Acquires Development Site On Nostrand Avenue In Midwood, Brooklyn For $6.15M
2251 Nostrand Ave, Brooklyn, NY 11210, USA
See Similar DealsDevelopment Site28,000 SF
Sold 07/02/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$219
Total Square Footage:28,000 SF
Transaction Type:Sale
A development site located at 2251 Nostrand Avenue in Midwood, Brooklyn has been sold in a closed transaction. The property features a total of 28,000 square feet of buildable space. The sale price was $6,150,000, resulting in a price per buildable square foot of $220.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,150,000
- Address: 2251 Nostrand Avenue, Midwood, Brooklyn
- Market: Midwood, Brooklyn
The seller, The Jackson Group, was represented by Elliot Chehabar. The buyer, Ratanji Hotels, was represented by Mahesh Ratanji. The deal was facilitated by brokers Shay Zach and Hen Vaknin.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$328,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,849.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,154.14
Annual Debt Service$349,849.65
Is there something missing? Send suggestions