Updated Sep 5, 2024
Angelo Rigaspark Acquires Park Slope Development Site For $33M
263 Prospect Avenue, South Slope, Brooklyn, NY, USA
$33,000,000
$220/SF
Building Size
150,000 SF
Asset Type
Development Site
Closing
Jun 23, 2021
About this deal
AI
Located in Park Slope, the development site at 263 Prospect Avenue has recently been sold for a staggering $33,000,000. The property spans 150,000 square feet, with a price per buildable square foot (PPBSF) of $220. The transaction took place on June 24, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $33,000,000
- Address: 263 Prospect Avenue, Park Slope
- Market: Park Slope
- Seller: Alice Halkias
- Seller's Representative: Cushman & Wakefield - Dan O'Brien, George Giannopoulos, Caroline Hodes & Casey Begoon
- Buyer: Angelo Rigaspark
The deal was facilitated by Dan O'Brien, George Giannopoulos, Caroline Hodes, and Casey Begoon from Cushman & Wakefield. Their expertise and representation were instrumental in the successful completion of the transaction.
On the Map
$33,000,000
$220/SF
Development Site
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Players
New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93