Shulem Schik Acquires Development Site In Borough Park, Brooklyn For $4M
SOLD
$4,000,000
New York
See Similar DealsDevelopment Site27 SF
Sold 10/27/2022
SOLD
Shulem Schik Acquires Development Site In Borough Park, Brooklyn For $4M
4911 19th Avenue, Brooklyn, New York 11204, United States
See Similar DealsDevelopment Site27 SF
Sold 10/27/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$148,148
Total Square Footage:27 SF
Transaction Type:Sale
A development site located at 4911 19th Avenue in Borough Park, Brooklyn, has been sold for $4,000,000. The buyer, Shulem Schik, acquired the property from the seller, Joel Braver. With a building square footage (BSF) of 27,056, the price per buildable square foot (PPBSF) comes out to be $148.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $4,000,000
- Building Square Footage (BSF): 27,056
- Price Per Buildable Square Foot (PPBSF): $148
- Buyer: Shulem Schik
- Seller: Joel Braver
- Address: 4911 19th Avenue, Borough Park, Brooklyn
This transaction involved the purchase of the development site by Shulem Schik from Joel Braver. The property, located at 4911 19th Avenue in Borough Park, Brooklyn, has a building square footage of 27,056. The sale price for the property was $4,000,000, resulting in a price per buildable square foot of $148.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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