David Halberstam Acquires Development Site In Fort Greene, Brooklyn For $13.25M
340 Myrtle Ave Brooklyn, NY 11205, USA
$13,250,000
$356/SF
Building Size
37,188 SF
Asset Type
Development Site
Closing
Aug 18, 2023
AI
A development site located at 340 Myrtle Avenue in Fort Greene, Brooklyn has been sold for a total of $13,250,000. The property offers a total buildable square footage (BSF) of 37,188, resulting in a price per buildable square footage (PPBSF) of $356.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,250,000
- Address: 340 Myrtle Avenue, Fort Greene, Brooklyn
- Market: Fort Greene, Brooklyn
- Buyer: David Halberstam
- Seller: Marisol Diaz
- Buyer's Rep: Ceasar Salama - Kassin Sabbagh Realty
- Seller's Rep: Brandon Thomas & Scott Dweck - Latitude Property Group
The deal was facilitated by Ceasar Salama from Kassin Sabbagh Realty, representing the buyer, David Halberstam. On the seller's side, the transaction was managed by Brandon Thomas and Scott Dweck from Latitude Property Group, acting as Marisol Diaz's representatives.
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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93