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328 12th Street

The Greenberg Family Acquires Development Site At 328 12th Street In Park Slope, Brooklyn For $1.775M
SOLDDevelopment Site

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

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:

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.

Players

Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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

8.94%

Cash-on-Cash

-2.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93