Updated Dec 21, 2023
Inbal Levy Brokers $1.4M Sale Of Development Site In East NY, Brooklyn
515 Georgia Avenue, Brooklyn, New York 11207, United States
$1,400,000
$100/SF
Building Size
14,000 SF
Asset Type
Development Site
Closing
May 24, 2022
About this deal
AI
A development site located at 515-517 Georgia Ave. in East NY, Brooklyn has been sold for a price of $1,400,000. The property covers an area of 14,000 square feet, with a price per buildable square foot (PPBSF) of $100. The transaction took place on May 25, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,400,000
- Address: 515-517 Georgia Ave., East NY, Brooklyn
- Market: East NY, Brooklyn
The buyer of the property is Abe Weins, while Igor Sadykov acted as the seller. Inbal Levy from Budget Real Estate represented both parties in the deal.
It is important to note that the sale of the property has been successfully completed.
Players
New York 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93