Updated Aug 7, 2025
MCB Real Estate & Osiris Ventures Acquire Development Site At 458 86th Street For $47.5M
458 86th Street
$47,500,000
$431/SF
Building Size
110,000 SF
Asset Type
Development Site
Closing
Jul 30, 2025
About this deal
AI
The development site located at 458 86th Street in Brooklyn has been sold for a sum of $47,500,000. The asset spans a total area of 110,000 square feet, resulting in a price per square foot of $431.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $47,500,000
- Address: 458 86th Street
- Market: Brooklyn
- Buyer: MCB Real Estate & Osiris Ventures
- Seller: ASG Equities
- Brokers: Ethan Stanton, Jeffrey (Jeff) Julien, Michael Mazzara & Brendan Maddigan - JLL
This transaction involved MCB Real Estate and Osiris Ventures acquiring the property from ASG Equities, facilitated by the brokerage team from JLL. The involvement of multiple brokers highlights the collaborative efforts in managing the deal effectively.
On the Map
$47,500,000
$431/SF
Development Site
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Players
Brooklyn 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
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93