Carlos Saavedra Acquires Development Site In Brooklyn For $6.5M
SOLD
$6,500,000
+ 3
New York
See Similar DealsDevelopment Site13,224 SF
Sold 03/10/2022
SOLD
Carlos Saavedra Acquires Development Site In Brooklyn For $6.5M
415 Degraw Street, Brooklyn, New York 11217, United States
See Similar DealsDevelopment Site13,224 SF
Sold 03/10/2022
+ 3
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$491
Total Square Footage:13,224 SF
Transaction Type:Sale
Located at 415 Degraw St. in Brooklyn, this development site was recently sold in a closed transaction. The property, with a building square footage (BSF) of 13,224, offers great potential for development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,500,000
- Market: Brooklyn
- Buyer: Carlos Saavedra
- Brokers: Guthrie Garvin, Brendan Maddigan, Jack Norton, Connor McCullough & Winfield Clifford - JLL
Carlos Saavedra acquired this development site for $6,500,000. The transaction was facilitated by a team of brokers from JLL, including Guthrie Garvin, Brendan Maddigan, Jack Norton, Connor McCullough, and Winfield Clifford.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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