Updated Oct 29, 2024
Chevras Bnei Yehoshua Acquires Development Site In Brooklyn For $14M
3714 15th Ave Brooklyn, Ny 11218, Usa
$14,000,000
$652/SF
Building Size
21,450 SF
Asset Type
Development Site
Closing
Aug 31, 2023
About this deal
AI
A development site located at 3714-3720 15th Avenue in Brooklyn has been sold for a total price of $14,000,000. The property spans 21,450 square feet, resulting in a price per square foot of $653. The transaction took place on August 31, 2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $14,000,000
- Square Footage: 21,450
- Price per Square Foot: $653
- Address: 3714-3720 15th Avenue, Brooklyn
- Market: Brooklyn
The buyer of the property is Chevras Bnei Yehoshua, while the sellers are Michael Falcone and Vincent Falcone. The legal representation for the transaction was provided by Gary Rosen, Esq. from Rosen Law LLC.
Players
Brooklyn 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93