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354 Dean Street

Bender Family Acquires Boerum Hill Development Site For $1.1M
SOLDDevelopment Site

Bender Family Acquires Boerum Hill Development Site For $1.1M

354 Dean Street

$1,100,000

Building Size

Asset Type

Development Site

Closing

Jan 19, 2023

AI

A development site located at 354 Dean Street in Boerum Hill has been sold. The property was purchased by the Bender Family from the Brutus Family in a closed transaction. The sale price for the site was $1,100,000. The property has a building square footage (BSF) of 4500 and a price per building square footage (PPBSF) of $245. The deal was facilitated by Hirschy Zaks and Itanel Rahmani from Venture Capital Properties.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,100,000
  • Address: 354 Dean Street
  • Market: Boerum Hill

Hirschy Zaks and Itanel Rahmani, representing Venture Capital Properties, played a key role in this transaction. They are experienced brokers who are available to assist with any off-market purchases or sales. Hirschy Zaks can be reached at [email protected] or 240.723.5644, while Itanel Rahmani can be contacted at [email protected] or 212.213.7800 x 120.

Players

Hirschy Zaks

Venture Capital Properties

Broker

$77M

vol

14 deals

Broker

Market 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

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93