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Chai Hoffman Sells Coney Island Development Site For $27M With Scott Dweck & Zach Mishan As Brokers

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SOLD
$27,000,000

New York

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Development Site213,417 SF
Sold 12/02/2021
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Property Image
SOLD

Chai Hoffman Sells Coney Island Development Site For $27M With Scott Dweck & Zach Mishan As Brokers

2957 Shell Road, Coney Island, Brooklyn, NY, USA

See Similar Deals
Development Site213,417 SF
Sold 12/02/2021
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$126
Total Square Footage:213,417 SF
Transaction Type:Sale

Located in the heart of Coney Island, the development site at 2957 Shell Road has been sold in a closed transaction. The seller, Chai Hoffman, has successfully completed the sale of this property.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $27,000,000
  • Address: 2957 Shell Road
  • Market: Coney Island

The deal was facilitated by two brokers, Scott Dweck from Latitude Property Group and Zach Mishan from DRWAG Realty. They represented the seller throughout the transaction process, ensuring a successful outcome.

The development site covers an area with a building square footage (BSF) of approximately 213,417. With a price per building square footage (PPBSF) of $126, this property presents a valuable investment opportunity.

Players

Zachary (Zach) Mishaan
6 deals$98.8M volume
BROKER

Scott Dweck
Latitude Property Group
16 deals$291.5M volume
BROKER

Details

SOLD
IMAGE: Scott Dweck & Zach Mishan DATE: 12/02/2021 ADDRESS: 2957 Shell Road MARKET: Coney Island ASSET TYPE: Development Site SELLER: Chai Hoffman BROKERS: Scott Dweck - Latitude Property Group & Zach Mishan - DRWAG Realty SALE PRICE: $27,000,000 BSF: 213,417 ~ PPBSF: $126

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

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