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366 Leonard Street, Brookly...

David Halberstam Acquires Development Site In East Williamsburg, Brooklyn For $1.8M
SOLDDevelopment Site

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

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.

Players

Daniel Lebor

Terra CRG

Broker

$986.7M

vol

50 deals

Broker

David Halberstam

Buyer

$183.4M

vol

14 deals

Buyer

Ben Harlev

Seller

$65.3M

vol

2 deals

Seller

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