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Alexander Glascock Of Anbau Inc. Acquires Development Site In Brooklyn For $4.3M

Property Image
SOLD
$4,300,000
Daniel (Dan) Lebor
Dan Marks
+ 1

New York

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Development Site4,100 SF
Sold 03/04/2025
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Property Image
SOLD

Alexander Glascock Of Anbau Inc. Acquires Development Site In Brooklyn For $4.3M

341 Nevins Street

See Similar Deals
Development Site4,100 SF
Sold 03/04/2025
Daniel (Dan) Lebor
Dan Marks
+ 1
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,048
Total Square Footage:4,100 SF
Transaction Type:Sale

The asset involved in this transaction is a development site located at 341 Nevins Street in Brooklyn. The property was sold for $4,300,000, comprising a built square footage of 4,100 square feet, which translates to a price per square foot of $1,048. The building has a bottom square footage of 14,760, resulting in a price per bottom square foot of $291.

Summary of transaction details:

This sale involved key individuals including buyer Alexander Glascock representing Anbau Inc. and seller Mark Trager representing Equity Residential. The brokers for this transaction were Dan Marks, Daniel Lebor, Andrew Manasia, and Tom Horrigan from Terra CRG. Notably, this transaction marks the 43rd deal executed in Gowanus by TerraCRG.

Players

Daniel (Dan) Lebor
50 deals$986.7M volume
BROKER

Dan Marks
Terra CRG
48 deals$904.6M volume
BROKER

Andrew Manasia
Terra CRG
16 deals$99.7M volume
BROKER

Thomas (Tom) Horrigan
Terra CRG
4 deals$16M volume(718) 395-1877
BROKER

Equity Residential
SELLER

Details

SOLD
IMAGE: Dan Marks, Daniel Lebor, Andrew Manasia & Tom Horrigan DATE: 03/04/2025 ADDRESS: 341 Nevins Street MARKET: Brooklyn ASSET TYPE: Development Site BUYER: Alexander Glascock - Anbau Inc. (@AnbauNYC) SELLER: Mark Trager - Equity Residential (@EquityRes) BROKERS: Dan Marks (@BrooklynDanny_TerraCRG), Daniel Lebor, Andrew Manasia (@AManasia_CRE) & Tom Horrigan (@TomHorriganCRE) - Terra CRG (@TerraCRG) SALE PRICE: $4,300,000 BSF: 14,760 ~ PPBSF: $291 SF: 4,100 ~ PPSF: $1,048 NOTE FROM BROKER: This sale marks the 43rd transaction in Gowanus for TerraCRG. TradedPartner (Dan)Lebor

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$229,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33