Updated Dec 2, 2025
Development Site At 477 Washington Avenue In Brooklyn Sold For $3 Million By Richard Velotta & Sam Perry
477 Washington Avenue
$3,000,000
$600/SF
Building Size
5,000 SF
Asset Type
Development Site
Closing
Nov 17, 2025
About this deal
AI
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.
On the Map
$3,000,000
$600/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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93