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313 Bond St, Brooklyn, NY 1...

Rabsky Group Acquires Development Site In Gowanus From Yoel Goldman For $80M
SOLDDevelopment Site

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

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.

Players

RG
Rabsky GroupBuyer

Yoel Goldman

All Year Management

Seller

$473.8M

vol

8 deals

Seller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93