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
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