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Douglas Elliman Brokers Close $1.7M Sale Of Development Site In Brooklyn

Property Image
SOLD
$1,700,000
Rafael Malka
 Jason Abrishami
+ 1

New York

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Development Site3,900 SF
Sold 05/30/2024
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Property Image
SOLD

Douglas Elliman Brokers Close $1.7M Sale Of Development Site In Brooklyn

263 Weirfield Street

See Similar Deals
Development Site3,900 SF
Sold 05/30/2024
Rafael Malka
 Jason Abrishami
+ 1
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$435
Total Square Footage:3,900 SF
Transaction Type:Sale

263-265 Weirfield Street is a development site located in Brooklyn, recently sold for $1,700,000. The property spans 3,900 square feet with a price per square foot of $436. The building size is 18,000 square feet, resulting in a price per buildable square foot of $94.

Summary of transaction details:

The MINSKY | ABRISHAMI team from Douglas Elliman represented the seasoned all-cash investor in the successful negotiation for the sale of 263-265 Weirfield Street. The team, with 45 years of combined experience and $30M in closed transactions in 2023, is ranked among the top percent at Douglas Elliman. For similar opportunities, interested parties can reach out to Jason Abrishami or Jerry Minsky directly via email.

Players

David Hubschman
1 deal$1.7M volume(917) 853-3515
BROKER

Rafael Malka
Douglas Elliman
1 deal$1.7M volume(917) 216-7022
BROKER

 Jason Abrishami
Douglas Elliman
6 deals$13.3M volume(516) 238-3520
BROKER

Jerry Minsky
Douglas Elliman
6 deals$13.3M volume(917) 301-1604
BROKER

Details

SOLD
IMAGE: Jerry Minsky, Jason Abrishami, David Hubschman & Rafael Malka DATE: 05/30/2024 ADDRESS: 263-265 Weirfield Street MARKET: Brooklyn ASSET TYPE: Development Site BROKERS: David Hubschman, Rafael Malka, Jason Abrishami (@MinskyAbrishamiTeam) & Jerry Minsky (@MinskyAbrishamiTeam) - Douglas Elliman (@DouglasElliman) SALE PRICE: $1,700,000 SF: 3,900 ~ PPSF: $436 BSF: 18,000 ~ PPBSF: $94 NOTE FROM BROKER: The MINSKY | ABRISHAMI team at Douglas Elliman Real Estate successfully negotiated on behalf of our seasoned all-cash investor for 263-265 Weirfield Street, a 39x100 development site in Bushwick with 18,000 buildable square feet with Facility FAR. For similar on-or-off market opportunities, please contact us directly via [email protected] or [email protected]. With 45 years of combined experience and $30M in closed transactions in 2023, our team is ranked among the top percent at Douglas Elliman. Visit our website at www.minskyabrishami.com

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$90,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41