Joel Horowitz Purchases Development Site From David Shavolian In Brooklyn For $2.1M
3116 Clarendon Road
$2,100,000
Building Size
—
Asset Type
Development Site
Closing
Dec 28, 2017
AI
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.
Players
Brooklyn 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93