Joseph Rubin & Shmuel A. Haikins Acquire Development Site In Crown Heights From Mendel Kaff For $17M
SOLD
$17,000,000
New York
See Similar DealsDevelopment Site
Sold 06/06/2022
SOLD
Joseph Rubin & Shmuel A. Haikins Acquire Development Site In Crown Heights From Mendel Kaff For $17M
478 Saint Johns Place, Brooklyn, New York 11213, United States
See Similar DealsDevelopment Site
Sold 06/06/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
Located in Crown Heights, the development site at 478 Saint Johns Place has recently been sold for a whopping $17,000,000. The transaction took place on June 6, 2022, and involved the buyer, Joseph Rubin & Shmuel A. Haikins, and the seller, Mendel Kaff. The property, situated in a prime market, offers immense potential for development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $17,000,000
- Address: 478 Saint Johns Place, Crown Heights
- Buyer: Joseph Rubin & Shmuel A. Haikins
- Seller: Mendel Kaff
Joseph Rubin & Shmuel A. Haikins, as the buyers, see great opportunity in this development site. On the other hand, Mendel Kaff, as the seller, has successfully closed this deal. The transaction showcases the potential growth and investment opportunities present in Crown Heights.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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