Private Investor Acquires Property At 2433 Pitkin Ave Brooklyn For $1.1M With Rep Jim McGuckin
SOLD
$1,100,000
+ 1
New York
See Similar DealsDevelopment Site
SOLD
Private Investor Acquires Property At 2433 Pitkin Ave Brooklyn For $1.1M With Rep Jim McGuckin
2433 Pitkin Ave, Brooklyn, NY, 11208
See Similar DealsDevelopment Site
+ 1
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The property involved in this transaction is a development site located at 2433 Pitkin Ave, Brooklyn, NY, 11208. The private investor acquired the site for $1,100,000.00. The site will be developed into a mixed-use property featuring 32 residential units and ground-floor retail space. The property is situated in the Brooklyn market and has a total square footage of 0.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,100,000.00
- Buyer's Representative: Jim McGuckin - Marcus & Millichap
- Buyer: Private Investor
- Seller's Representatives: Jakub Nowak, Jim McGuckin, and Thomas Brennan - Marcus & Millichap
- Seller: Private Investor
Jakub Nowak, Jim McGuckin, and Thomas Brennan of Marcus & Millichap represented both the buyer and the seller in this transaction. The involvement of these representatives played a crucial role in facilitating the deal between the two private investors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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