Douglas Elliman Brokers Close $1.7M Sale Of Development Site In Brooklyn
263 Weirfield Street
$1,700,000
$435/SF
Building Size
3,900 SF
Asset Type
Development Site
Closing
May 30, 2024
AI
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:
- Property Type: Development Site
- Transaction Amount: $1,700,000
- Address: 263-265 Weirfield Street
- Market: Brooklyn
- Brokers: David Hubschman, Rafael Malka, Jason Abrishami & Jerry Minsky - Douglas Elliman
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
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93