Joel Horowitz Purchases Development Site From David Shavolian In Brooklyn For $2.1M
SOLD
$2,100,000
New York
See Similar DealsDevelopment Site
Sold 12/28/2017
SOLD
Joel Horowitz Purchases Development Site From David Shavolian In Brooklyn For $2.1M
3116 Clarendon Road
See Similar DealsDevelopment Site
Sold 12/28/2017
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 3116 Clarendon Road in Brooklyn. The property was sold for $2,100,000.00.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $2,100,000.00
- Address: 3116 Clarendon Road
- Market: Brooklyn
- Buyer: Joel Horowitz
- Seller: David Shavolian
- Brokers: Shawn Sadaghtai
This deal highlights the roles of key individuals, with Joel Horowitz acting as the buyer and David Shavolian as the seller of the development site. Shawn Sadaghtai was involved as the broker representing the transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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