Updated Oct 29, 2024
McKarkein Capital LLC Acquires Development Site In Brooklyn For $1.07M
37 Covert St., Brooklyn, NY 11207, USA
Building Size
2,700 SF
Asset Type
Development Site
Closing
Nov 9, 2017
About this deal
AI
A development site located at 37 Covert Street in Brooklyn, New York, has been sold for a price of $1,070,000. The property spans 2,700 square feet and has a total air space of 5,940 square feet. The price per square foot comes out to be $180.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,070,000
- Address: 37 Covert Street, New York
- Market: Brooklyn
- Square Footage: 2,700 SF
- Total Air Space: 5,940
- Price per Square Foot: $180
The seller of the property is Lewis Randall and Nelson Marcia. The buyer is Mckarkein Capital LLC. EPIC Commercial Realty, represented by Shay Zach, served as the Senior Associate Broker and represented both the seller and the buyer 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93