Updated Sep 9, 2024
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
About this deal
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