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

Property Image
SOLD
$2,850,000
Daniel Kaykov

New York

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Development Site55,000 SF
Sold 05/27/2020
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Property Image
SOLD

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

45 Garnet St, Brooklyn, NY 11231, USA

See Similar Deals
Development Site55,000 SF
Sold 05/27/2020
Daniel Kaykov
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$51
Total Square Footage:55,000 SF
Transaction Type:Sale

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

8 deals$52.7M volume
BUYER

Val Katayev
5 deals$24.1M volume
BUYER

Details

SOLD
IMAGE: @ValKatayev & Daniel Kaykov DATE: 05/27/2020 ADDRESS: 45 Garnet Street MARKET: Carroll Gardens ASSET TYPE: Development Site SALE PRICE: $2,850,000 SF: 5,500 PPSF: $518 BSF: 11,000 PPBSF: $259 SELLER: Barry Wagschal BUYER: Val Katayev & Daniel Kaykov – Poise Property Group NOTE: The buyer plans to develop an 8 unit condo building.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$151,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45