Oren Hakim Acquires Development Site In Brooklyn, Bushwick For $1.1M
SOLD
$1,100,000
New York
See Similar DealsDevelopment Site41,800 SF
Sold 06/18/2019
SOLD
Oren Hakim Acquires Development Site In Brooklyn, Bushwick For $1.1M
464 Irving Ave, Brooklyn, NY 11237, USA
See Similar DealsDevelopment Site41,800 SF
Sold 06/18/2019
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$26
Total Square Footage:41,800 SF
Transaction Type:Sale
A development site located at 464 Irving Avenue in Brooklyn's Bushwick neighborhood has been sold for $1,100,000. The property spans 4,180 square feet, resulting in a price per square foot of $263. The transaction took place on June 18, 2019.
Summary of transaction details:
- Property Type: Development Site
- Asking Price: $1,200,000
- Sale Price: $1,100,000
- Square Footage: 4,180
- Price Per Square Foot: $263
- Seller: Rafael Felix
- Buyer: Oren Hakim
- Brokers: Donal Flaherty and Steve Reynolds, representing BRG_CRE
The sale of the development site was facilitated by brokers Donal Flaherty and Steve Reynolds of BRG_CRE. They played a key role in connecting the seller, Rafael Felix, with the buyer, Oren Hakim.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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