Kevin Shahery's Monarch Realty Holdings Acquires Development Site In Downtown Brooklyn For $11.3M
SOLD
$11,300,000
+ 4
New York
See Similar DealsDevelopment Site17,655 SF
Sold 03/30/2023
SOLD
Kevin Shahery's Monarch Realty Holdings Acquires Development Site In Downtown Brooklyn For $11.3M
340 Livingston Street
See Similar DealsDevelopment Site17,655 SF
Sold 03/30/2023
+ 4
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$640
Total Square Footage:17,655 SF
Transaction Type:Sale
A development site located at 340 Livingston Street in Downtown Brooklyn has been sold for $11,300,000. The property spans 17,655 square feet, resulting in a price per square foot of $640. The buyer of the site is Kevin Shahery, represented by Monarch Realty Holdings.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,300,000
- Address: 340 Livingston Street
- Market: Downtown Brooklyn
- Square Footage: 17,655
- Price per Square Foot: $640
The deal was facilitated by a team of brokers, including Ofer Cohen, Daniel Lebor, Jackson O'Neill, and Andrew Manasia from Terra CRG, as well as Chirag Doshi and Yossi Lieberman from Meridian Capital Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$602,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,146.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,567.76
Annual Debt Service$642,813.18
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