Oren Hakim Acquires Development Site In Brooklyn, Bushwick For $1.1M
464 Irving Ave, Brooklyn, NY 11237, USA
$1,100,000
$26/SF
Building Size
41,800 SF
Asset Type
Development Site
Closing
Jun 17, 2019
AI
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.
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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93