Updated Sep 9, 2024
Ariel Property Advisors Facilitates $7.5M Sale Of Development Site In Park Slope
306 6th Avenue
$7,500,000
Building Size
—
Asset Type
Development Site
Closing
Feb 23, 2023
About this deal
AI
A development site located at 306 6th Avenue in Park Slope has been sold for a price of $7,500,000. The property spans a total of 14,400 square feet, with a price per buildable square foot (PPBSF) of $521. The sale was facilitated by Michael Tortorici, Sean R. Kelly, Stephen Vorvolakos, and Nicole Daniggelis of Ariel Property Advisors.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $7,500,000
- Address: 306 6th Avenue
- Market: Park Slope
- BSF: 14,400
- PPBSF: $521
The brokers involved in the deal were Michael Tortorici, Sean R. Kelly, Stephen Vorvolakos, and Nicole Daniggelis from Ariel Property Advisors. They successfully facilitated the sale, ensuring a smooth transaction for both the buyer and seller.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93