Avi Cohen Acquires Development Site In Prospect Heights For $2.55M
373 Prospect Place, Brooklyn, NY 11238
$2,550,000
$255/SF
Building Size
9,969 SF
Asset Type
Development Site
Closing
Apr 10, 2019
AI
A development site located at 373 Prospect Pl in Prospect Heights has been sold for a price of $2,550,000. The property has a building square footage (BSF) of 9,969, resulting in a price per building square footage (PPBSF) of $255.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $2,550,000
- Building Square Footage (BSF): 9,969
- Price per Building Square Footage (PPBSF): $255
- Address: 373 Prospect Pl
- Market: Prospect Heights
The seller of the development site was Josh Randone, while the buyer was Avi Cohen. The deal was facilitated by Ariel Ben Ezra from the brokerage firm of the same name.
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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93