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258 Eckford St, Brooklyn, N...

Eckford Street LLC Acquires Property At 258 Eckford St Brooklyn For $1.67M With Buyer's Rep Hakeem Lecky
SOLDDevelopment Site

Eckford Street LLC Acquires Property At 258 Eckford St Brooklyn For $1.67M With Buyer's Rep Hakeem Lecky

258 Eckford St, Brooklyn, NY, 11222

$1,670,000

$334/SF

Building Size

5,000 SF

Asset Type

Development Site

Closing

Jun 2, 2020

AI

The property asset involved in this transaction is located at 258 Eckford St, Brooklyn, NY, 11222. The sale price for the property was $1,670,000. The property encompasses a total of 5,000 square feet and is situated on a 25 ft by 100 ft lot, which is zoned R6B. The deal reflects a price of $334 per buildable square foot within the Brooklyn market.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,670,000
  • Address: 258 Eckford St, Brooklyn, NY, 11222
  • Square Footage: 5,000
  • Buyer: Eckford Street LLC
  • Seller: 258 Eckford LLC
  • Buyer's Representative: Hakeem Lecky (Investment Property Realty Group (IPRG))
  • Sellers' Representatives: Corey Haynes, Derek Bestreich, Luke Sproviero, Donal Flaherty, and Hakeem Lecky

The transaction was facilitated by Bestreich Realty Group (BRG), which represented both sides. The involvement of multiple representatives highlights the complexity and collaborative nature of this real estate deal, with Hakeem Lecky acting for the buyer while also being a key player in the overall transaction process.

Players

Hakeem Lecky

Investment Property Realty Group (IPRG)

Broker

$91M

vol

31 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

9.50%

Cash-on-Cash

-2.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93