Phil Miller Acquires Development Site On Montrose Avenue In Williamsburg, Brooklyn For $1.85M
237 Montrose Ave, Brooklyn, NY 11206, USA
$1,850,000
$246/SF
Building Size
7,500 SF
Asset Type
Development Site
Closing
Oct 31, 2019
AI
An undisclosed development site located at 237 Montrose Avenue in Williamsburg, Brooklyn has been sold in a closed property transaction. The site boasts a total buildable square footage (BSF) of 7,500, with a price per buildable square footage (PPBSF) of $246. The transaction took place between the seller, Anthony Lasaracina, and the buyer, Phil Miller, for a sale price of $1,850,000, which was also the asking price.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,850,000
- Address: 237 Montrose Avenue
- Market: Williamsburg, Brooklyn
The deal was facilitated by Luke Sproviero, Donal Flaherty, and Hakeem Lecky of Bestreich Realty Group, who acted as brokers representing both the buyer and the seller in the transaction.
No additional information regarding the property or the transaction is available at this time.
Players
New York 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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93