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352 Meeker Avenue, Brooklyn...

Joel Schwartz Acquires Development Site On Meeker Avenue, Williamsburg For $4.81M
SOLDDevelopment Site

Joel Schwartz Acquires Development Site On Meeker Avenue, Williamsburg For $4.81M

352 Meeker Avenue, Brooklyn, NY 11211, USA

$4,810,000

$880/SF

Building Size

5,462 SF

Asset Type

Development Site

Closing

Jun 25, 2020

AI

A development site located at 352 Meeker Avenue in Williamsburg, Brooklyn has been sold in a recent transaction. The property, with a lot size of 5,462 SF, was sold for a price of $4,810,000. The sale took place on 06/25/2021, and the buyer was Joel Schwartz. Marie Martin acted as the seller in the deal. The transaction was facilitated by Jeffrey A. Shalom and Alex Svetlakou from Cushman & Wakefield, who represented the seller as their representatives.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,810,000
  • Address: 352 Meeker Avenue, Williamsburg
  • Market: Williamsburg
  • Buyer: Joel Schwartz
  • Seller: Marie Martin
  • Seller's Rep: Jeffrey A. Shalom & Alex Svetlakou - Cushman & Wakefield
  • BSF: 14,747
  • PPBSF: $326
  • Zoning: M1-2/R6
  • Lot Size: 5,462 SF

For more information and other Brooklyn opportunities currently available, please contact Jeffrey A. Shalom at (718) 307-6558 or email [email protected].

Players

Alex Svetlakou

Ripco

Broker

$34.5M

vol

12 deals

Broker

Joel Schwartz

Buyer

$450.9M

vol

43 deals

Buyer

New York 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

3.30%

Cash-on-Cash

-0.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93