Updated Oct 28, 2024
Gowanus Cubes Acquires Entertainment Venue & Development Site In Brooklyn From The Halkias Family For $22.5M
263 Prospect Ave, Brooklyn, NY, USA
$22,500,000
Building Size
—
Asset Type
Development Site
Closing
Jun 24, 2020
About this deal
AI
The entertainment venue and development site located at 263 Prospect Ave., 275 Prospect Ave., 198 16th St., and 188 16th St. in Brooklyn has been sold for a total price of $22,500,000. The transaction took place on June 24, 2021. The property was purchased by Gowanus Cubes, represented by Angelo Rigas. The seller of the property is The Halkias Family.
Summary of transaction details:
- Property Type: Entertainment Venue & Development Site
- Transaction Amount: $22,500,000
- Buyer: Gowanus Cubes - Angelo Rigas
- Seller: The Halkias Family
- Address: 263 Prospect Ave., 275 Prospect Ave., 198 16th St., 188 16th St.
- Market: Brooklyn
The purchase of this property is a significant deal for Gowanus Cubes, led by Angelo Rigas. This acquisition provides them with a valuable entertainment venue and development opportunity in the Brooklyn market. The Halkias Family, as the seller, has completed a successful transaction, allowing them to move on from this asset.
On the Map
$22,500,000
Development Site
View full map
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93