facebook


Go ProSubmit a deal
Submit
Home

/

Deals

/

New York

/

Development Site

/

Sale

/

240 Nassau Street

Updated Dec 4, 2024

Alloy Development Acquires Development Site On Nassau Street In Downtown Brooklyn For $15M
SOLDDevelopment Site

Alloy Development Acquires Development Site On Nassau Street In Downtown Brooklyn For $15M

240 Nassau Street

$15,000,000

Building Size

—

Asset Type

Development Site

Closing

Nov 16, 2023

About this deal

AI

Alloy Development has acquired a development site located at 240 Nassau Street in Downtown Brooklyn. The property was sold by the Madison Square Boys & Girls Club for a total sale price of $15,000,000. The site spans a total of 71,039 square feet, resulting in a price per buildable square foot of $211. The transaction was facilitated by brokers Daniel O'Brien and Caroline Hodes from Newmark, and David Lebenstein from Cushman & Wakefield.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $15,000,000
  • Address: 240 Nassau Street, Downtown Brooklyn
  • Market: Downtown Brooklyn
  • BSF: 71,039
  • PPBSF: $211

The acquisition of the development site at 240 Nassau Street was facilitated by Alloy Development, a prominent player in the real estate industry. Daniel O'Brien and Caroline Hodes from Newmark, along with David Lebenstein from Cushman & Wakefield, represented the parties involved in the transaction. This deal marks an important milestone for Alloy Development as they expand their portfolio in Downtown Brooklyn.

Instagram

On the Map

Open live map

$15,000,000

Development Site

View full map

Players

Caroline Hodes

Newmark

Broker

$2.1B

vol

108 deals

Broker
AD
Alloy DevelopmentBuyer
MC
Madison Square Boys & Girls ClubSeller
Bilt advertisement

Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Deal FAQ

Visit David Lebenstein to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets