Updated Dec 4, 2024
Northgate Real Estate Group Sells Development Site In Borough Park, Brooklyn For $22M
4202 - 4218 Fort Hamilton Parkway
$22,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 19, 2023
About this deal
AI
The development site located at 4202-4218 Fort Hamilton Parkway in Borough Park, Brooklyn has been sold for a price of $22,000,000. The property, which spans a significant square footage, was listed for sale by Northgate Real Estate Group, represented by brokers Greg Corbin and Chaya Milworn.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $22,000,000
- Address: 4202-4218 Fort Hamilton Parkway, Brooklyn
- Market: Borough Park, Brooklyn
- Brokers: Greg Corbin & Chaya Milworn - Northgate Real Estate Group
The successful sale of this development site was facilitated by the expertise and proficiency of brokers Greg Corbin and Chaya Milworn from Northgate Real Estate Group. Their extensive knowledge of the market and outstanding negotiation skills were instrumental in achieving the transaction of $22,000,000.
Players
Brooklyn 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93