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443 Graham Ave, Brooklyn, N...

Joel Schwartz Acquires $3M East Williamsburg Development Site With Brokers David Marciano And Issac Shabot - KSR
SOLDDevelopment Site

Joel Schwartz Acquires $3M East Williamsburg Development Site With Brokers David Marciano And Issac Shabot - KSR

443 Graham Ave, Brooklyn, NY 11211, USA

Building Size

7,500 SF

Asset Type

Development Site

Closing

Aug 19, 1918

AI

The property at 443 Graham Ave in East Williamsburg, Brooklyn has been sold in a closed transaction. The development site spans 7,500 square feet and has a total buildable square footage of 7,500 square feet. The property was sold for $3,000,000, resulting in a price per square foot of $400.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,000,000
  • Address: 443 Graham Ave, East Williamsburg, Brooklyn
  • Market: East Williamsburg
  • Square Footage: 7,500 BSF
  • Price per Square Foot: $400 BSF
  • Seller: Frank Mancini
  • Buyer: Joel Schwartz
  • Brokers: David Marciano and Issac Shabot – KSR (represented both sides)

Issac Shabot and David Marciano, representing KSR, served as the brokers for both the seller, Frank Mancini, and the buyer, Joel Schwartz. They facilitated the successful transaction of this development site in East Williamsburg.

Players

David Marciano

Alpha Realty

Broker

$67.1M

vol

9 deals

Broker
Westbridge Realty Group
Westbridge Realty GroupBrokerage

Joel Schwartz

Buyer

$450.9M

vol

43 deals

Buyer

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93