Updated Oct 29, 2024
Rabsky Group Acquires Development Site In Gowanus From Yoel Goldman For $80M
313 Bond St, Brooklyn, NY 11231, USA
Building Size
185,000 SF
Asset Type
Development Site
Closing
Aug 12, 2019
About this deal
AI
The Rabsky Group has acquired a development site located at 313-331 Bond Street in Gowanus for a total price of $80,000,000. The property, purchased from Yoel Goldman of All Year Management, was previously bought by Goldman in July 2018 for $61,000,000. The development site spans over 185,000 square feet and has a price per buildable square foot of $432.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $80,000,000
- Address: 313-331 Bond Street
- Market: Gowanus
- Seller: Yoel Goldman - All Year Management
- Previous Purchase Price: $61,000,000
- Buildable Square Feet: 185,000
- Price per Buildable Square Foot: $432
The Rabsky Group, represented by their broker, made this significant acquisition in Gowanus from Yoel Goldman of All Year Management. This transaction marks a substantial increase in the property's value since its previous purchase by Goldman in July 2018.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93