Commercial Acquisitions Acquires Development Site In Homecrest, Brooklyn For $4M
SOLD
$4,000,000
New York
See Similar DealsDevelopment Site33,000 SF
Sold 01/10/2024
SOLD
Commercial Acquisitions Acquires Development Site In Homecrest, Brooklyn For $4M
2518-2520 Ocean Avenue
See Similar DealsDevelopment Site33,000 SF
Sold 01/10/2024
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$121
Total Square Footage:33,000 SF
Transaction Type:Sale
A development site located at 2518-2520 Ocean Avenue in the Homecrest neighborhood of Brooklyn has been sold for a price of $4,000,000. The property spans a total of 33,000 square feet and has a price per square foot of $121. The transaction took place on 01/10/2024.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Square Footage: 33,000
- Price Per Square Foot: $121
- Address: 2518-2520 Ocean Avenue, Homecrest, Brooklyn
- Market: Homecrest, Brooklyn
The deal was facilitated by Arsen Atbashyan of Commercial Acquisitions, acting as the broker for this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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