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383 Rutland Rd, Brooklyn, N...

David Samuels Acquires Development Site On Rutland Rd In Brooklyn For $1.65M
SOLDDevelopment Site

David Samuels Acquires Development Site On Rutland Rd In Brooklyn For $1.65M

383 Rutland Rd, Brooklyn, NY 11225, USA

$1,650,000

$17/SF

Building Size

97,000 SF

Asset Type

Development Site

Closing

Oct 3, 2018

AI

A development site located at 383 Rutland Rd in Brooklyn has been sold for a price of $1.65 million. The property has a buildable square footage (BSF) of 9,700, which translates to a price per buildable square footage (PPBSF) of $170. The transaction took place on 10/04/2018.

Summary of transaction details

  • Property Type: Development site
  • Transaction Amount: $1.65 million
  • Buildable Square Footage (BSF): 9,700
  • Price per Buildable Square Footage (PPBSF): $170
  • Address: 383 Rutland Rd, Brooklyn
  • Market: Brooklyn

The buyer in this transaction is David Samuels, while the seller is Hilda Maisonet. The deal was facilitated by Marcel Fridman from Barcel Group, who represented the buyer, David Samuels.

Players

Marcel Fridman

Barcel Group

Broker

$456.5M

vol

142 deals

Broker

David Samuels

Skybrook Capital

Buyer

$20.9M

vol

6 deals

Buyer

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

9.61%

Cash-on-Cash

-2.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93