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276 Bedford Ave, Brooklyn, ...

Phil Miller Acquires Williamsburg Development Site On Bedford Ave For $3.8M
SOLDDevelopment Site

Phil Miller Acquires Williamsburg Development Site On Bedford Ave For $3.8M

276 Bedford Ave, Brooklyn, NY 11249, USA

$3,797,250

$69/SF

Building Size

54,720 SF

Asset Type

Development Site

Closing

May 17, 2020

AI

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.

Players

Michael Salvatico

Marcus & Millichap

Broker

$787M

vol

173 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

Phil Miller

Buyer

$13M

vol

5 deals

Buyer

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

4.18%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93