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
$2,350,000
$34/SF
Building Size
67,500 SF
Asset Type
Development Site
Closing
Sep 19, 2018
AI
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.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93