Lin Dong Acquires Development Site In Sunset Park, Brooklyn For $720,000
338 43rd Street
$720,000
$184/SF
Building Size
3,900 SF
Asset Type
Development Site
Closing
Mar 26, 2024
AI
The property at 338 43rd Street in Sunset Park, Brooklyn is a Development Site spanning 3,900 square feet and was recently sold for $720,000, translating to a price per square foot of $185. The transaction took place on 03/26/2024 with the buyer being Lin Dong and the seller being the Frustaci Family. The deal was facilitated by brokers Jake Torre and Jason Grunberg from SAB Capital.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $720,000
- Market: Sunset Park, Brooklyn
- Buyer: Lin Dong
- Seller: Frustaci Family
- Brokers: Jake Torre & Jason Grunberg - SAB Capital
- SF: 3,900
- PPSF: $185
Jake Torre and Jason Grunberg of SAB Capital served as the brokers in this transaction, orchestrating the successful sale of the development site in Sunset Park, Brooklyn. The involvement of key individuals like Lin Dong and the Frustaci Family highlights the significance of this property deal in the real estate market.
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
22.03%
Cash-on-Cash
-6.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93