facebook
Traded Co logo
Submit

The Saffayeh Family Acquires Development Site In Windsor Terrace, Brooklyn For $1.775M

Property Image
SOLD
$1,775,000

New York

See Similar Deals
Development Site
Sold 12/18/2023
the dealplayerscompscontact
Property Image
SOLD

The Saffayeh Family Acquires Development Site In Windsor Terrace, Brooklyn For $1.775M

44 Seeley Street

See Similar Deals
Development Site
Sold 12/18/2023
Contact now

Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

The development site located at 44 Seeley Street in Windsor Terrace, Brooklyn has been sold. The property was purchased by The Saffayeh Family from The Visalli Family for a sale price of $1,775,000. The site covers an area with a building square footage (BSF) of 12,188. The price per building square footage (PPBSF) is $146, indicating a favorable investment opportunity in the market.

Summary of transaction details

Shaun Riney, Andrew Bronsteen, and John Lopez from Marcus & Millichap represented the buyer and seller in this transaction. Their expertise and guidance were instrumental in navigating the complexities of the deal. We would like to extend our appreciation to @michael.l.landsman and @hohlaw for their assistance throughout the process.

Players

Andrew Bronsteen
64 deals$257.5M volume
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

John Lopez
Marcus & Millichap
9 deals$32.7M volume(718) 475-4308
BROKER

Details

SOLD
IMAGE: John Lopez, Shaun Riney & Andrew Bronsteen DATE: 12/18/2023 ADDRESS: 44 Seeley Street MARKET: Windsor Terrace, Brooklyn ASSET TYPE: Development Site BUYER: The Saffayeh Family SELLER: The Visalli Family BROKERS: Shaun Riney (@ShaunRiney1), Andrew Bronsteen (@BkBronsteen) & John Lopez (@Johnny_Devsite) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $1,775,000 BSF: 12,188 ~ PPBSF: $146 NOTE FROM BROKER: Huge credit to @michael.l.landsman and @hohlaw for helping guide our client through this complicated transaction and being on top of everything every step of the way.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$94,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,306.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,414.41
Annual Debt Service$100,972.87