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Joshua Dardashtian Acquires Development Site In Park Slope, Brooklyn For $1.8MM

Property Image
SOLD
$1,800,000

New York

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Development Site3,000 SF
Sold 02/15/2023
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Property Image
SOLD

Joshua Dardashtian Acquires Development Site In Park Slope, Brooklyn For $1.8MM

282 6th Street

See Similar Deals
Development Site3,000 SF
Sold 02/15/2023
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$600
Total Square Footage:3,000 SF
Transaction Type:Sale

A development site located at 282 6th Street in Park Slope, Brooklyn has been sold for $1,800,000. The property spans 3,000 square feet, resulting in a price per square foot of $600. The building's total square footage is 4,000, with a price per buildable square foot of $450.

Summary of transaction details

The buyer, Joshua Dardashtian, has acquired the development site from the seller, Michael Grosseto. The transaction was facilitated by brokers Jakub Nowak and Jesse Kay from Marcus & Millichap.

It is worth noting that despite significant deferred maintenance, potential structural issues, and active violations, the property was sold at the full asking price of $1.8 million. The comprehensive marketing campaign conducted by Jakub Nowak and Jesse Kay of Marcus & Millichap generated over 20 written offers, leading to a successful and expedited sales process.

For further information or assistance in selling your commercial property, Jakub Nowak can be reached at 718-475-4353, and Jesse Kay can be contacted at 718-475-4321.

Players

Jesse Kay
28 deals$114.1M volume(718) 475-4321
BROKER

Jakub Nowak
Marcus & Millichap
87 deals$471.9M volume
BROKER

Joshua Dardashtian
6 deals$10.6M volume
BUYER

Details

SOLD
IMAGE: Jakub Nowak & Jesse Kay DATE: 02/15/2023 ADDRESS: 282 6th Street MARKET: Park Slope, Brooklyn ASSET TYPE: Development Site BUYER: Joshua Dardashtian SELLER: Michael Grosseto BROKERS: Jakub Nowak (@Jakub_H_Nowak) (@The_Nowak_Group) & Jesse Kay (@Bk.By.Kay) - Marcus & Millichap (@MarcusMillichap_NY) ASKING PRICE: $1,800,000 SALE PRICE: $1,800,000 SF: 3,000 ~ PPSF: $600 BSF: 4,000 ~ PBSF: $450 NOTE FROM @The_Nowak_Group: Although the building had significant deferred maintenance, potential structural issues and active violations, our comprehensive marketing campaign allowed us to generate over 20 written offers and sell the asset at the full asking price of $1.8mm. The entire sales process took less than 120 days from the day we exclusively listed the asset to the day we closed. To speak with one of our experts versed in the unique challenges involved in the sale of your commercial property, please give us a call. Jakub Nowak – 718-475-4353, Jesse Kay – 718-475-4321.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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