E & M Builders Group Acquires Development Site In Prospect Heights For $1.58M
399 Prospect Place, Brooklyn, New York 11238, United States
$1,580,000
$287/SF
Building Size
5,498 SF
Asset Type
Development Site
Closing
Mar 29, 2022
AI
Located in Prospect Heights, a development site at 399 Prospect Pl. has been sold in a recent transaction. The property spans 5,498 square feet and has a price per square foot of $287. The sale price for this asset was $1,580,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,580,000
- Building Square Footage: 5,498
- Price Per Square Foot: $287
- Address: 399 Prospect Pl., Prospect Heights
E & M Builders Group, represented by Meir Daus, was the buyer in this transaction. The broker involved in the deal was Shai Bernstein from The SNS Team at Douglas Elliman. Buyers and sellers interested in similar transactions can reach out to Shai Bernstein at [email protected].
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.04%
Cash-on-Cash
-2.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93