Updated Sep 9, 2024
Development Site In East Williamsburg Sold For $1.89M To David Halberstam And Seller Frank Scelta
368 Leonard Street, Brooklyn, New York 11211, United States
$1,885,000
$279/SF
Building Size
6,750 SF
Asset Type
Development Site
Closing
Feb 16, 2022
About this deal
AI
A development site located at 368 Leonard Street in East Williamsburg has been sold for $1,885,000. The property spans 6,750 square feet and has a price per buildable square foot (PPBSF) of $279. The transaction took place on February 17, 2022. The buyer, David Halberstam, acquired the property from the seller, Frank Scelta.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,885,000
- Address: 368 Leonard Street
- Market: East Williamsburg
- Seller: Frank Scelta
- Buyer: David Halberstam
- Brokers: Peter Matheos - Matheos Realty
- Total Square Footage: 6,750
- Price per Buildable Square Foot (PPBSF): $279
Peter Matheos of Matheos Realty represented both the buyer and the seller in this transaction.
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
8.42%
Cash-on-Cash
-2.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93