Phil Miller Acquires Williamsburg Development Site On Bedford Ave For $3.8M
SOLD
$3,797,250
+ 1
New York
See Similar DealsDevelopment Site54,720 SF
Sold 05/18/2020
SOLD
Phil Miller Acquires Williamsburg Development Site On Bedford Ave For $3.8M
276 Bedford Ave, Brooklyn, NY 11249, USA
See Similar DealsDevelopment Site54,720 SF
Sold 05/18/2020
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$69
Total Square Footage:54,720 SF
Transaction Type:Sale
A development site located at 276-278 Bedford Ave in Williamsburg, BK has been sold for a total of $3,797,250. The property has a total square footage of 5,472 and a price per square foot of $694.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,797,250
- Address: 276-278 Bedford Ave
- Market: Williamsburg, BK
- Total Square Footage: 5,472
- Price Per Square Foot: $694
The seller of the property was Victoria Dejesus, while the buyer was Phil Miller. The deal was facilitated by brokers Peter Von Der Ahe, Shaun Riney, and Mike Salvatico from @NewYorkMultifamily.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$202,519.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,490.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,000.90
Annual Debt Service$216,010.83
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