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285 Metropolitan Avenue

Capri Jet Realty Acquires Development Site In New York City For $6.35M
SOLDDevelopment Site

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

Theo Eastwind

Capri Jet Realty

Broker

$42.1M

vol

13 deals

Broker

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