Updated Sep 9, 2024
Dmitriy Slobodyansky Acquires Cobble Hill Development Site For $5.05M
232 Smith St Brooklyn, NY 11231, USA
$5,050,000
Building Size
—
Asset Type
Development Site
Closing
Aug 30, 2023
About this deal
AI
A development site located at 232 Smith Street in Cobble Hill, Brooklyn has been sold for a price of $5,050,000. The property offers a buildable square footage (BSF) of 10,000 and a price per buildable square footage (PPBSF) of $505. This prime development opportunity is situated in the vibrant market of Cobble Hill.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,050,000
- Address: 232 Smith Street
- Market: Cobble Hill, Brooklyn
- BSF: 10,000
- PPBSF: $505
Dmitriy Slobodyansky has acquired the development site, facilitated by the representation of Victor Sozio, Sean R. Kelly, Nicole Daniggelis, and Stephen Vorvolakos from Ariel Property Advisors. These brokers played a key role in orchestrating the successful sale of the property.
Players
Market 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
3.14%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93