Updated Dec 21, 2023
Joel Jacobawaitz Acquires Development Site In Bedford-Stuyvesant For $1.25M
270 Skillman Street, Bedford-Stuyvesant, Brooklyn, NY, USA
$1,250,000
$312/SF
Building Size
4,000 SF
Asset Type
Development Site
Closing
Dec 7, 2021
About this deal
AI
Located in the Bedford–Stuyvesant neighborhood of Brooklyn, the development site at 270 Skillman Street has been sold in a recent transaction. The sale took place on December 7, 2021, with Doron Berenholtz from The Corcoran Group representing the seller, Evans Boateng. The buyer, Joel Jacobawaitz, acquired the property for a sale price of $1,250,000.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $1,250,000
- Address: 270 Skillman Street
- Market: Bedford–Stuyvesant
- Broker: Doron Berenholtz - The Corcoran Group
The development site has a buildable square footage (BSF) of 4,000, resulting in a price per buildable square foot (PPBSF) of $312. This transaction offers Joel Jacobawaitz the opportunity to develop a property in a sought-after location within Brooklyn. The broker, Doron Berenholtz, is actively seeking more development sites in Brooklyn, Queens, Manhattan, and the Bronx, regardless of size or price.
On the Map
$1,250,000
$312/SF
Development Site
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Brooklyn Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93