Updated Oct 29, 2024
The School Construction Authority Acquires Development Site In Sunset Park, Brooklyn
250 46th St, Brooklyn, NY 11220, USA
$5,550,000
$18/SF
Building Size
304,520 SF
Asset Type
Development Site
Closing
Jan 15, 2020
About this deal
AI
The development site located at 250-266 46th Street in Sunset Park, Brooklyn has been sold for a total price of $5,550,000. The property, which is a development site, has a building square footage (BSF) of 30,452. The price per building square footage (PPBSF) is $180. The transaction took place on January 16, 2020.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,550,000
- Building Square Footage (BSF): 30,452
- Price per Building Square Footage (PPBSF): $180
- Market: Sunset Park, Brooklyn
The seller of the property is Raymond Yu, who represents Yuco Management Incorporated. On the other hand, the buyer is The School Construction Authority, represented by Lorraine Grillo. The brokers involved in the deal were Victor Sozio and Stephen Vorvolakos, who work for Ariel Property.
On the Map
$5,550,000
$18/SF
Development Site
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Players
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
2.86%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93