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263 Weirfield Street

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

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:

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

Douglas Elliman

Broker

$1.7M

vol

1 deal

Broker

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