Abraham Waldman Acquires Development Site From Francis Leung In Gowanus For $7.85M
284 4th Avenue
$7,850,000
Building Size
—
Asset Type
Development Site
Closing
Jan 2, 2025
AI
The property asset involved in this transaction is a development site located at 284 4th Avenue in the Gowanus market. The sale price for this asset was $7,850,000, with a total building square footage of 33,261, resulting in a price per building square foot of $236.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,850,000
- Address: 284 4th Avenue
- Market: Gowanus
- Building Square Footage: 33,261
- Price Per Building Square Foot: $236
- Buyer: Abraham Waldman
- Seller: Francis Leung
- Brokers: Sean R. Kelly, Nicole Daniggelis & Stephen Vorvolakos - Ariel Property Advisors
The key individuals involved in this transaction include the buyer, Abraham Waldman, and the seller, Francis Leung. The brokerage firm representing the transaction consisted of Sean R. Kelly, Nicole Daniggelis, and Stephen Vorvolakos from Ariel Property Advisors, facilitating the engagement between both parties.
Players
Brooklyn 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
2.02%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93