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Development Site In East Williamsburg Sold For $1.89M To David Halberstam And Seller Frank Scelta

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SOLD
$1,885,000

New York

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Development Site6,750 SF
Sold 02/17/2022
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Property Image
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 Deals
Development Site6,750 SF
Sold 02/17/2022
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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

Peter Matheos
21 deals$69.2M volume(646) 423-0757
BROKER

Terra CRG
BROKERAGE

Details

SOLD
IMAGE: Peter Matheos DATE: 02/17/2022 ADDRESS: 368 Leonard Street MARKET: East Williamsburg ASSET TYPE: Development Site BUYER: David Halberstam SELLER: Frank Scelta BROKERS: Peter Matheos (@P_Matheos) - Matheos Realty SALE PRICE: $1,885,000 BSF: 6,750 ~ PPBSF: $279

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Net Operating Income (NOI)

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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
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