Bestreich Realty Group Represents Seller Hubert Nowakowski In $2.35M Sale Of Development Site On Manhattan Avenue In Greenpoint, NY
SOLD
$2,350,000
New York
See Similar DealsDevelopment Site67,500 SF
Sold 09/20/2018
SOLD
Bestreich Realty Group Represents Seller Hubert Nowakowski In $2.35M Sale Of Development Site On Manhattan Avenue In Greenpoint, NY
415 Manhattan Ave, Brooklyn, NY 11222, USA
See Similar DealsDevelopment Site67,500 SF
Sold 09/20/2018
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$34
Total Square Footage:67,500 SF
Transaction Type:Sale
A development site located at 415 Manhattan Avenue in Greenpoint, NY has been sold for $2,350,000. The property spans 6,750 square feet, resulting in a price per square foot of $348.
Summary of transaction details
- Property Type: Dev. Site
- Transaction Amount: $2,350,000
- Square Footage: 6,750 SF
- Price per Square Foot: $348
The seller of the property was Hubert Nowakowski, while the buyer was Joel Schwartz- Southside Units. The deal was facilitated by Bestreich Realty Group, specifically Justin Zeitchik and Derek Bestreich from @bestreichrealtygroup.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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