Updated Dec 4, 2024
The Greenberg Family Acquires Development Site At 328 12th Street In Park Slope, Brooklyn For $1.775M
328 12th Street
$1,775,000
Building Size
—
Asset Type
Development Site
Closing
Jan 10, 2024
About this deal
AI
The development site located at 328 12th Street in Park Slope, Brooklyn, has been sold in a closed transaction. The property was purchased by The Greenberg Family from Matt Bader – 328 12th Street LLC. The transaction was facilitated by brokers Shaun Riney and John Lopez from Marcus & Millichap. The sale price for the property was $1,775,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,775,000
- Address: 328 12th Street, Park Slope, Brooklyn
- Market: Park Slope, Brooklyn
- Buyer: The Greenberg Family
- Seller: Matt Bader – 328 12th Street LLC
- Brokers: Shaun Riney & John Lopez - Marcus & Millichap
The development site is described as shovel ready, with a full set of DOB Approved Plans. For similar development site acquisitions or sales, interested parties can get in touch with the New York Multifamily Group’s Development Site Team at 914-806-4921.
On the Map
$1,775,000
Development Site
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Players
Brooklyn Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.94%
Cash-on-Cash
-2.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93