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249 Cooper Street, Bushwick...

Ronnie Oskar Acquires Development Site In Bushwick, Brooklyn For $1.3M
SOLDDevelopment Site

Ronnie Oskar Acquires Development Site In Bushwick, Brooklyn For $1.3M

249 Cooper Street, Bushwick, Brooklyn, NY, USA

$1,315,000

$169/SF

Building Size

7,776 SF

Asset Type

Development Site

Closing

May 2, 2021

AI

Located in Bushwick, Brooklyn, a development site at 249 Cooper Street has recently been sold in a closed transaction. The property, with a zoning classification of R6, offers the potential for future development.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,315,000
  • Address: 249 Cooper Street
  • Market: Bushwick, Brooklyn
  • Zoning: R6

The buyer of the property is Ronnie Oskar, while the seller is the Estate of Bernice Joseph. Facilitating the transaction was broker Jerry Tenenbaum from Top Nest Properties.

Spanning a total building square footage of 7,776, the property was sold at a rate of $169 per square foot.

Players

Jerry Tenenbaum

Top Nest Properties

Broker

$15.5M

vol

11 deals

Broker

Brooklyn 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

12.06%

Cash-on-Cash

-3.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93