Val Katayev & Daniel Kaykov's Poise Property Group Acquires Development Site In Carroll Gardens For $2.85M
45 Garnet St, Brooklyn, NY 11231, USA
$2,850,000
$51/SF
Building Size
55,000 SF
Asset Type
Development Site
Closing
May 26, 2020
AI
The development site located at 45 Garnet Street in Carroll Gardens has been sold for a price of $2,850,000. The property spans over 5,500 square feet, with a price per square foot of $518. The total buildable square footage is 11,000, resulting in a price per buildable square foot of $259. The transaction took place between the seller, Barry Wagschal, and the buyers, Val Katayev and Daniel Kaykov of Poise Property Group.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,850,000
- Square Footage: 5,500
- Price per Square Foot: $518
- Buildable Square Footage: 11,000
- Price per Buildable Square Foot: $259
Val Katayev and Daniel Kaykov of Poise Property Group represented the buyers in this transaction. The buyer's plans for the property include the development of an eight-unit condominium building.
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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93