Updated Oct 25, 2024
David Halberstam Acquires Development Site In East Williamsburg, Brooklyn For $1.8M
366 Leonard Street, Brooklyn, New York 11211, United States
$1,765,000
$261/SF
Building Size
6,750 SF
Asset Type
Development Site
Closing
Dec 31, 2021
About this deal
AI
A development site located at 366 Leonard Street in East Williamsburg, Brooklyn has been sold in a closed transaction. The property was purchased by David Halberstam from Ben Harlev for a sale price of $1,765,000. The development site spans 6,750 square feet and has a price per buildable square foot (PPBSF) of $261.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,765,000
- Address: 366 Leonard Street, East Williamsburg, Brooklyn
- Market: East Williamsburg, Brooklyn
- Buyer: David Halberstam
- Seller: Ben Harlev
The transaction was facilitated by the brokers Dan Marks, Daniel Lebor, and Andrew Manasia from TerraCRG.
Andrew Manasia, Dan Marks, and Daniel Lebor played pivotal roles in representing the buyer and seller in this deal. Their expertise in the East Williamsburg, Brooklyn market contributed to the successful completion of the transaction.
On the Map
$1,765,000
$261/SF
Development Site
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Players
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
8.99%
Cash-on-Cash
-2.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93