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Development Site Sold For $22 Million In Brooklyn With Brokers Dan Marks Andrew Manasia & Daniel Lebor

Property Image
SOLD
$22,000,000
Andrew Manasia
Daniel (Dan) Lebor
Dan Marks

New York

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Development Site63,360 SF
Sold 11/20/2024
the dealplayerscompscontact
Property Image
SOLD

Development Site Sold For $22 Million In Brooklyn With Brokers Dan Marks Andrew Manasia & Daniel Lebor

536 Metropolitan Avenue, 546 Metropolitan Avenue & 554-558 Metropolitan Avenue

See Similar Deals
Development Site63,360 SF
Sold 11/20/2024
Andrew Manasia
Daniel (Dan) Lebor
Dan Marks
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$347
Total Square Footage:63,360 SF
Transaction Type:Sale

The transaction involved a development site located at 536 Metropolitan Avenue, 546 Metropolitan Avenue, and 554-558 Metropolitan Avenue in Brooklyn. The sale price was $22,000,000, with a total building square footage of 21,120 and a price per square foot of $1,041. The site's total buildable square footage (BSF) stood at 72,295, translating to a price per buildable square foot (PPBSF) of $304.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $22,000,000
  • BSF: 72,295
  • PPBSF: $304
  • SF: 21,120
  • PPSF: $1,041
  • Date of Transaction: 11/20/2024
  • Addresses: 536 Metropolitan Avenue, 546 Metropolitan Avenue, 554-558 Metropolitan Avenue
  • Market: Brooklyn

The brokers involved in the transaction were Dan Marks, Andrew Manasia, and Daniel Lebor from Terra CRG, who represented the seller in this deal.

Players

Daniel (Dan) Lebor
Terra CRG
Daniel Lebor
50 deals$986.7M volume
BROKER
Dan Marks
Terra CRG
Dan Marks
48 deals$904.6M volume
BROKER
Andrew Manasia
Terra CRG
Andrew Manasia
16 deals$99.7M volume
BROKER

Details

SOLD
IMAGE: Dan Marks, Andrew Manasia & Daniel Lebor DATE: 11/20/2024 ADDRESS: 536 Metropolitan Avenue, 546 Metropolitan Avenue & 554-558 Metropolitan Avenue MARKET: Brooklyn ASSET TYPE: Development Site BROKERS: Dan Marks (@BrooklynDanny_TerraCRG), Andrew Manasia (@Amanasia_CRE) & Daniel Lebor - Terra CRG (@TerraCRG) SALE PRICE: $22,000,000 BSF: 72,295 ~ PPBSF: $304 SF: 21,120 ~ PPSF: $1,041

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$78,161.35
Cash-on-Cash Return-1.27%
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