Updated Dec 4, 2024
Constructive Partnerships Unlimited Acquires Development Site In Brooklyn For $3.2 Million
2863 Atlantic Avenue
$3,200,000
Building Size
—
Asset Type
Development Site
Closing
Oct 29, 2024
About this deal
AI
The property involved in the transaction is a development site located at 2863 Atlantic Avenue in Brooklyn. The sale price was $3,200,000, and the total building square footage (BSF) amounts to 42,794, resulting in a price per building square foot (PPBSF) of $74.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,200,000
- Address: 2863 Atlantic Avenue
- Market: Brooklyn
- Building Square Footage: 42,794
- Price per Building Square Foot: $74
- Buyer: Constructive Partnerships Unlimited (CPU)
- Seller: Nicholas Thomopoulos
- Broker: Matthew Peters - Marcus & Millichap
Matthew Peters from Marcus & Millichap represented the seller, Nicholas Thomopoulos, in this transaction. Constructive Partnerships Unlimited (CPU) was the buyer involved in this sale deal.
On the Map
$3,200,000
Development Site
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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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93