Jake And Austin Deraaff Acquire Development Site In Westchester For $1M
400 Main Street, Peekskill, New York 10566, United States
$1,000,000
$33/SF
Building Size
30,000 SF
Asset Type
Development Site
Closing
Mar 27, 2022
AI
An development site located at 400 Main St. in Westchester has been sold in a closed transaction. The property, with a market value of $1,000,000, was purchased by Jake Deraaff and Austin Deraaff. The seller in the deal was Phil Miller, and the transaction was facilitated by broker Chaim Lebrecht from Clapton Equities LLC.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $1,000,000
- Address: 400 Main St.
- Market: Westchester
Jake Deraaff and Austin Deraaff were the buyers in this transaction, while Phil Miller was the seller. Representing the buyers was broker Chaim Lebrecht from Clapton Equities LLC. The development site, with a total building square footage of 30,000, was sold at a price of $33 per square foot.
Players
Peekskill 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93