Updated Dec 21, 2023
Joel Schwartz Acquires Development Site In Williamsburg, Brooklyn For $2.7M
302 Graham Avenue, Williamsburg, Brooklyn, NY, USA
$2,700,000
$1,200/SF
Building Size
2,250 SF
Asset Type
Development Site
Closing
Jan 28, 2019
About this deal
AI
Located at 302 Graham Ave in Williamsburg, Brooklyn, this development site recently changed hands in a closed property transaction. The sale took place on January 29, 2019, with a sale price of $2.7 million. The property offers a buildable square footage (BSF) of 7,500, resulting in a price per buildable square footage (PPBSF) of $360.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $2.7 million
- Address: 302 Graham Ave, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- BSF: 7,500
- PPBSF: $360
Michael Lepore acted as the seller of the property, while Joel Schwartz emerged as the buyer. Representing the buyer, George Koncilja from Oxford Property Group facilitated the deal, whereas John Gangone from DGW NY Realty represented the seller.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93