Updated Oct 28, 2024
Judah Lefkowitz Acquires Development Site On Grand Ave In Crown Heights For $5.25M
527 Grand Avenue, Brooklyn, New York 11238, United States
$5,250,000
$164/SF
Building Size
32,000 SF
Asset Type
Development Site
Closing
Dec 27, 2021
About this deal
AI
Located in Crown Heights, the development site at 527 Grand Ave. has been sold in a recent transaction. The property, with a buildable square footage (BSF) of 32,000, offers significant potential for development. The sale price of the property was $5,250,000, resulting in a price per buildable square foot (PPBSF) of $164.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,250,000
- Address: 527 Grand Ave.
- Market: Crown Heights
Judah Lefkowitz emerged as the buyer in this transaction, while Alon Leibovitz & Partners represented the seller. The deal was facilitated by Lenny Sporn from Sporn Group LLC, who acted as the broker in the transaction.
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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93