E & M Builders Group Acquires Development Site In Prospect Heights For $1.58M
SOLD
$1,580,000
New York
See Similar DealsDevelopment Site5,498 SF
Sold 03/30/2022
SOLD
E & M Builders Group Acquires Development Site In Prospect Heights For $1.58M
399 Prospect Place, Brooklyn, New York 11238, United States
See Similar DealsDevelopment Site5,498 SF
Sold 03/30/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$287
Total Square Footage:5,498 SF
Transaction Type:Sale
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].
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$84,266.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,613.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,490.01
Annual Debt Service$89,880.07
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