Updated Dec 21, 2023
Toni Chen Acquires Development Site On Atlantic Avenue In East New York For $1.275M
2744 Atlantic Ave, Brooklyn, NY 11207, USA
$1,275,000
$102/SF
Building Size
12,414 SF
Asset Type
Development Site
Closing
Jul 22, 2019
About this deal
AI
Located at 2744 Atlantic Avenue in East New York, this development site was recently sold in a closed transaction. The property spans a total of 12,414 square feet and has a buildable square footage (BSF) of 12,414. The sale price for this asset was $1,275,000, resulting in a price per buildable square foot (PPBSF) of $102.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $1,275,000
- Address: 2744 Atlantic Avenue, East New York
- Market: East New York
- Seller: Michael Dilorenzo
- Buyer: Toni Chen
- Brokers: Matthew Peters & Griffin Prall
The transaction involved several key individuals and companies. Michael Dilorenzo served as the seller, while Toni Chen acted as the buyer for this development site deal. The brokers representing the parties involved were Matthew Peters and Griffin Prall.
New York 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
12.44%
Cash-on-Cash
-3.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93