Arik Bar Chaim Acquires Development Site On Skillman Avenue In Williamsburg, Brooklyn For $1.6M
SOLD
$1,600,000
+ 1
New York
See Similar DealsDevelopment Site1,500 SF
Sold 04/27/2021
SOLD
Arik Bar Chaim Acquires Development Site On Skillman Avenue In Williamsburg, Brooklyn For $1.6M
30 Skillman Avenue, Brooklyn, NY 11211, USA
See Similar DealsDevelopment Site1,500 SF
Sold 04/27/2021
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,066
Total Square Footage:1,500 SF
Transaction Type:Sale
Located at 30 Skillman Avenue in Williamsburg, Brooklyn, this development site was recently sold in a closed transaction. The property, spanning a lot size of 25 feet by 100 feet, offers great potential for growth and development. The site is zoned as R6B, allowing for various development opportunities.
- Sale Price: $1,600,000
- Building Square Footage (BSF): 5,000
- Price Per Building Square Foot (PPBSF): $320
- Permits Filed: Full demolition in April 2021
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,600,000
- Address: 30 Skillman Avenue
- Market: Williamsburg, Brooklyn
- Buyer: Arik Bar Chaim
- Seller: Len Tudisco
- Brokers: Derek Bestreich, Luke Sproviero, and Donal Flaherty - Bestreich Realty Group
- Lot Size: 25 ft x 100 ft
Derek Bestreich, Luke Sproviero, and Donal Flaherty from Bestreich Realty Group represented the buyer and seller in this transaction. Their expertise in the market facilitated the smooth closing of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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