Updated Sep 11, 2026
Naftali Group Acquires Development Site On Kent Avenue For $72M
470 Kent Avenue
$72,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 13, 2023
About this deal
AI
A development site located at 470 Kent Avenue in New York City has been sold for a total of $72,000,000. The property is situated in a prime location with high market value.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $72,000,000
- Address: 470 Kent Avenue, New York City
The buyers of the property are Naftali Group, represented by Miki Naftali and David Hochfelder. They have acquired the development site through the transaction.
The sale of the property was facilitated by a team of brokers. Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, and Winfield Clifford from JLL, as well as Robert Burton from Cushman & Wakefield, played a crucial role in completing the deal.
On the Map
$72,000,000
Development Site
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Players
Williamsburg, Brooklyn, NY 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93