Constructive Partnerships Unlimited Acquires Development Site In Brooklyn For $3.2 Million
SOLD
$3,200,000
New York
See Similar DealsDevelopment Site
Sold 10/29/2024
SOLD
Constructive Partnerships Unlimited Acquires Development Site In Brooklyn For $3.2 Million
2863 Atlantic Avenue
See Similar DealsDevelopment Site
Sold 10/29/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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