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Settlement Housing Fund Acquires Development Site In Coney Island, Brooklyn For $5.2M
SOLD
$5,238,918
New York
See Similar DealsDevelopment Site
Sold 04/27/2023
SOLD
Settlement Housing Fund Acquires Development Site In Coney Island, Brooklyn For $5.2M
2947 West 28th Street Brooklyn, New York 11224, USA
See Similar DealsDevelopment Site
Sold 04/27/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The Settlement Housing Fund has purchased an industrial building located at 2947 West 28th Street in Coney Island, Brooklyn. The property, a development site, was acquired from Starrett Companies for a total of $5,238,918.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $5,238,918
- Buyer: Settlement Housing Fund
- Seller: Starrett Companies
- Address: 2947 West 28th Street, Coney Island, Brooklyn
This transaction involved the Settlement Housing Fund as the buyer and Starrett Companies as the seller. The industrial building, located at 2947 West 28th Street in Coney Island, Brooklyn, has been acquired by the Settlement Housing Fund for a price of $5,238,918.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$279,408.96
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,612.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,835.14
Annual Debt Service$298,021.73
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