Marcus Jecklin Acquires Dev Site In East New York, Brooklyn For $800,000
2709 Fulton Street, Brooklyn, NY, USA
$800,000
$35/SF
Building Size
22,500 SF
Asset Type
Development Site
Closing
May 5, 2021
AI
Located in East New York, Brooklyn, the property at 2709 Fulton Street has been sold in a recent transaction. The asset, a development site, was purchased for a price of $800,000. Spanning across 22,500 square feet, the property offers significant potential for development. The price per buildable square foot (PPBSF) stands at $35, making it an attractive investment opportunity.
Summary of transaction details
- Property Type: Dev Site
- Transaction Amount: $800,000
- Buyer: Marcus Jecklin
- Seller: Juan Rivas
- Broker: Anthony Celifarco
- Address: 2709 Fulton Street
- Market: East New York, Brooklyn
- BSF: 22,500
- PPBSF: $35
The buyer of the property is Marcus Jecklin, while Juan Rivas acted as the seller. Representing the transaction is Anthony Celifarco, a broker from Celifarco Real Estate. This deal showcases the potential for development in the East New York market, with the property providing ample space for future projects.
New York 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
19.83%
Cash-on-Cash
-5.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93