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4202 2nd Avenue

Zeqe Mehmetaj Acquires Development Site In Brooklyn For $7.8M With Broker Erik Yankelovich
SOLDDevelopment Site

Zeqe Mehmetaj Acquires Development Site In Brooklyn For $7.8M With Broker Erik Yankelovich

4202 2nd Avenue

$7,800,000

$394/SF

Building Size

19,750 SF

Asset Type

Development Site

Closing

Nov 18, 2019

AI

The property involved in this transaction is a development site located at 4202 2nd Avenue in Brooklyn. It was sold for $7,800,000.00 and encompasses a total square footage of 19,750.0.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $7,800,000.00
  • Address: 4202 2nd Avenue
  • Market: Brooklyn
  • Square Footage: 19,750.0
  • Buyer: Zeqe Mehmetaj
  • Broker: Erik Yankelovich - Atlas Realty Group

This transaction highlights the buyer Zeqe Mehmetaj's acquisition of the development site with the representation of Erik Yankelovich from Atlas Realty Group managing the deal. Erik Yankelovich played a crucial role in facilitating the transaction.

Players

Erik Yankelovich

Atlas Realty Group

Broker

$1.1B

vol

129 deals

Broker

Zeqe Mehmetaj

Buyer

$41.6M

vol

5 deals

Buyer

Brooklyn 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

2.03%

Cash-on-Cash

-0.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93