Development Site At 477 Washington Avenue In Brooklyn Sold For $3 Million By Richard Velotta & Sam Perry
SOLD
$3,000,000
New York
See Similar DealsDevelopment Site5,000 SF
Sold 11/18/2025
SOLD
Development Site At 477 Washington Avenue In Brooklyn Sold For $3 Million By Richard Velotta & Sam Perry
477 Washington Avenue
See Similar DealsDevelopment Site5,000 SF
Sold 11/18/2025
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$600
Total Square Footage:5,000 SF
Transaction Type:Sale
The property asset involved in this transaction is a development site located at 477 Washington Avenue in Brooklyn. The sale price of the property is $3,000,000, with a built square footage (BSF) of 6,420 and a price per built square foot (PPBSF) of $467. The site has a total square footage (SF) of 5,000, which translates to a price per square foot (PPSF) of $600.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- BSF: 6,420
- PPBSF: $467
- SF: 5,000
- PPSF: $600
The deal was represented by brokers Richard Velotta and Sam Perry from Raven Property Advisors, detailing the involvement of key individuals in this transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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