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.
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