Updated May 26, 2026
Northgate Real Estate Group Acquires Development Site In Brighton Beach, Brooklyn For $3.05M
2954 Brighton 6th Street
$3,050,000
Building Size
—
Asset Type
Development Site
Closing
Aug 31, 2023
About this deal
AI
The development site located at 2954 Brighton 6th Street in Brighton Beach, Brooklyn has been sold for a price of $3,050,000. This property offers potential for future development and is situated in a prime location within the market.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $3,050,000
- Address: 2954 Brighton 6th Street, Brighton Beach, Brooklyn
- Market: Brighton Beach, Brooklyn
The deal was facilitated by Chaya Milworn, Greg Corbin, and Felix Ades of Northgate Real Estate Group. Greg Corbin, representing Northgate Real Estate Group, played a key role in the transaction as one of the primary brokers. Additionally, Chaya Milworn and Felix Ades, also from Northgate Real Estate Group, contributed to the successful completion of the deal.
Players
Bel Air Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.20%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93