Judah Lefkowitz Acquires Development Site On Grand Ave In Crown Heights For $5.25M
SOLD
$5,250,000
New York
See Similar DealsDevelopment Site32,000 SF
Sold 12/27/2021
SOLD
Judah Lefkowitz Acquires Development Site On Grand Ave In Crown Heights For $5.25M
527 Grand Avenue, Brooklyn, New York 11238, United States
See Similar DealsDevelopment Site32,000 SF
Sold 12/27/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$164
Total Square Footage:32,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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