Development Site In East Williamsburg Sold For $1.89M To David Halberstam And Seller Frank Scelta
SOLD
$1,885,000
New York
See Similar DealsDevelopment Site6,750 SF
Sold 02/17/2022
SOLD
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
See Similar DealsDevelopment Site6,750 SF
Sold 02/17/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$279
Total Square Footage:6,750 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$100,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,697.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,935.86
Annual Debt Service$107,230.34
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