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28 Herbert St, Brooklyn, NY...

The Pinner Family Acquires Development Site In Williamsburg, Brooklyn For $9.04M
SOLDDevelopment Site

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

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.

Players

Jacob Stavsky

Stav Equities LLC

Broker

$175.2M

vol

29 deals

Broker

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

1.75%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93