Updated Oct 29, 2024
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
About this deal
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