Updated Sep 11, 2026
The Pinner Family Acquires Development Site In Williamsburg, Brooklyn For $9.04M
28 Herbert St, Brooklyn, NY 11222, USA
$9,040,000
Building Size
—
Asset Type
Development Site
Closing
Nov 22, 2022
About this deal
AI
Invictus Property Advisors represented The Pinner Family in the purchase of a development site located at 28 Herbert Street in Williamsburg, Brooklyn. The property was sold by Tibi Zicherman and represented by Stav Equities. The sale took place on November 21, 2022, and the transaction amount was $9,040,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,040,000
- Buyer: The Pinner Family
- Seller: Tibi Zicherman
- Buyer's Representative: Josh Lipton, Andrew Levine & Jax Hindmarch - Invictus Property Advisors
- Seller's Representative: Jacob Stavsky - Stav Equities
- Market: Williamsburg, Brooklyn
The buyer of the development site, The Pinner Family, was represented by Josh Lipton, Andrew Levine, and Jax Hindmarch from Invictus Property Advisors. On the seller's side, Jacob Stavsky from Stav Equities acted as the representative. The property is situated in the neighborhood of Williamsburg in Brooklyn.
On the Map
$9,040,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.75%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93