Capri Jet Realty Acquires Development Site In New York City For $6.35M
285 Metropolitan Avenue
$6,350,000
$1,114/SF
Building Size
5,700 SF
Asset Type
Development Site
Closing
Feb 17, 2023
AI
The development site located at 285 Metropolitan Avenue in New York City has been sold in a recent transaction. The property, encompassing 5,700 square feet, was sold for a price of $6,350,000, resulting in a price per square foot of $1,114. The sale was facilitated by Theo Eastwind from Capri Jet Realty, who represented the seller, Robert Vibrato.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,350,000
- Address: 285 Metropolitan Avenue, New York City
- Square Footage: 5,700
- Price per Square Foot: $1,114
- Seller: Robert Vibrato
- Broker: Theo Eastwind - Capri Jet Realty
Theo Eastwind, acting as the representative for Capri Jet Realty, played a pivotal role in the successful sale of the development site. With their expertise and market knowledge, they ensured a smooth transaction process for both the buyer and the seller.
Players
Market 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
2.50%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93