Updated Aug 20, 2026
SOLDDevelopment Site
Aron Hershkop Sells Development Site In Brooklyn For $1,800,000 With Valerie Sebbag As The Broker
537 East New York Avenue
$1,800,000
$2,250/SF
Building Size
800 SF
Asset Type
Development Site
Closing
Jul 28, 2026
About this deal
AI
The property asset involved in this transaction is a development site located at 537 East New York Avenue in Brooklyn. The sale price for the property is $1,800,000, encompassing a total square footage of 800, which translates to a price per square foot of $2,250.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,800,000
- Address: 537 East New York Avenue
- Market: Brooklyn
- Square Footage: 800
- Price Per Square Foot: $2,250
- Seller: Aron Hershkop
- Broker: Valerie Sebbag - 555 Properties LLC
This transaction highlights the involvement of seller Aron Hershkop and broker Valerie Sebbag, representing 555 Properties LLC in the deal. They played crucial roles in facilitating this development site sale in the Brooklyn market.
Players
Brooklyn 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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93