Goose Property Management Acquires Development Site At 264 Butler Street In Brooklyn For $15.25M
264 Butler Street
$15,250,000
$242/SF
Building Size
63,000 SF
Asset Type
Development Site
Closing
Aug 18, 2025
AI
The property asset involved in this transaction is a development site located at 264 Butler Street in Brooklyn. The transaction was completed for a total price of $15,250,000, with a building square footage of 63,000 and a price per building square foot of $242.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,250,000
- Building Square Footage: 63,000
- Price per Building Square Foot: $242
- Buyer: Goose Property Management
- Seller: Cappalla Family
- Brokers: Ethan Stanton, Brendan Maddigan, Michael Mazzara & Winfield Clifford - JLL
- Transaction Date: 8/19/2025
The deal was facilitated by the brokerage team of Ethan Stanton, Brendan Maddigan, Michael Mazzara, and Winfield Clifford, who represented the parties involved. The transaction showcases active participation from experienced brokers within JLL in navigating the sale of this development site in Brooklyn.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93