facebook
Traded Co logo
Submit

Harel Edery's EDG Development Acquires Development Site In Brooklyn Dumbo For $4.35M

Property Image
SOLD
$4,350,000
Anand Melwani
PC
Harel Edery

New York

See Similar Deals
Development Site14,254 SF
Sold 09/26/2019
the dealplayerscompscontact
Property Image
SOLD

Harel Edery's EDG Development Acquires Development Site In Brooklyn Dumbo For $4.35M

288 Water St, Brooklyn, NY 11201, USA

See Similar Deals
Development Site14,254 SF
Sold 09/26/2019
Anand Melwani
PC
Harel Edery
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$305
Total Square Footage:14,254 SF
Transaction Type:Sale

Located at 288-290 Water Street in Brooklyn's Dumbo neighborhood, a development site has been sold in a closed transaction. The property features a total buildable square footage (BSF) of 14,254, with a price per buildable square footage (PPBSF) of $305. The sale involved an asking price of $4,500,000, and the final sale price was recorded at $4,350,000.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,350,000
  • Address: 288-290 Water Street
  • Market: Brooklyn, Dumbo
  • Seller: 275 Front Street Realty Corp. C/O Peter Chang
  • Buyer: Harel Edery – EDG Development
  • Buyer's Representative: Anand Melwani - ARM Real Estate Group

The buyer in this transaction was Harel Edery, representing EDG Development, while Anand Melwani from ARM Real Estate Group acted as the buyer's representative. The seller was 275 Front Street Realty Corp. C/O Peter Chang. No additional information is available about the deal.

Players

Anand Melwani
Landair Advisors
Anand Melwani
41 deals$168.7M volume(516) 658-1222
BROKER
Arm Real Estate Group
Arm Real Estate Group
BROKERAGE
Harel Edery
Harel Edery
4 deals$27.6M volume
BUYER
PC
Peter Chang
4 deals$67.3M volume
SELLER

Details

SOLD
IMAGE: Francis Leung, Anand Melwani & Harel Edery DATE: 09/26/2019 ADDRESS: 288-290 Water Street MARKET: Brooklyn, Dumbo ASSET TYPE: Development Site SELLER: 275 Front Street Realty Corp. C/O Peter Chang BUYER: Harel Edery – EDG Development BUYER’S REP: Anand Melwani – ARM Real Estate Group […] ASKING PRICE: $4,500,000 SALE PRICE: $4,350,000 BSF: 14,254 PPBSF: $305

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$232,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,454.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,621.22
Annual Debt Service$247,454.63