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45 Garnet St, Brooklyn, NY ...

Val Katayev & Daniel Kaykov's Poise Property Group Acquires Development Site In Carroll Gardens For $2.85M
SOLDDevelopment Site

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

Daniel Kaykov

Poise Property Group

Buyer

$52.7M

vol

8 deals

Buyer

Barry Wagschal

Seller

$28M

vol

7 deals

Seller

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