Zeqe Mehmetaj Acquires Development Site In Brooklyn For $7.8M With Broker Erik Yankelovich
SOLD
$7,800,000
New York
See Similar DealsDevelopment Site19,750 SF
Sold 11/18/2019
SOLD
Zeqe Mehmetaj Acquires Development Site In Brooklyn For $7.8M With Broker Erik Yankelovich
4202 2nd Avenue
See Similar DealsDevelopment Site19,750 SF
Sold 11/18/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$394
Total Square Footage:19,750 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$415,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,711.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,975.98
Annual Debt Service$443,711.75
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