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Barish Wagschal Purchases Development Site At 555 Liberty Avenue From Chad Nelson For $2.725M

Property Image
SOLD
$2,725,000
Tom Reynolds
Steve Reynolds
Brian Davila
+ 1

New York

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Development Site7,500 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Barish Wagschal Purchases Development Site At 555 Liberty Avenue From Chad Nelson For $2.725M

555 Liberty Avenue

See Similar Deals
Development Site7,500 SF
Sold
Tom Reynolds
Steve Reynolds
Brian Davila
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$363
Total Square Footage:7500 SF
Transaction Type:Sale

The transaction involved a development site located at 555 Liberty Avenue in East New York, Brooklyn. The sale price was $2,725,000, with a building square footage of 7,500 and a price per square foot of $363. The site had a total of 22,374 buildable square feet, priced at $121 per buildable square foot.

Summary of transaction details:

The deal involved multiple brokers from Investment Property Realty Group, including Derek Bestreich, Steve Reynolds, Tom Reynolds, and Brian Davila, facilitating the transaction on behalf of the buyer and seller. This collaboration highlights the involvement of key professionals in the successful closing of the deal.

Players

Brian Davila
Investment Property Realty Group (IPRG)
Brian Davila
108 deals$283.4M volume(718) 360-8849
BROKER
Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Tom Reynolds
Investment Property Realty Group (IPRG)
Tom Reynolds
98 deals$292.3M volume(718) 360-8817
BROKER
Steve Reynolds
Investment Property Realty Group (IPRG)
Steve Reynolds
133 deals$364.4M volume(718) 360-8807
BROKER
Investment Property Realty Group (IPRG)
Investment Property Realty Group (IPRG)
BROKERAGE

Details

SOLD
IMAGE: Derek Bestreich, Steve Reynolds, Tom Reynolds & Brian Davila DATE: 11/3/2025 ADDRESS: 555 Liberty Avenue MARKET: East New York, Brooklyn ASSET TYPE: Development Site BUYER: Barish Wagschal - Wagstone Capital SELLER: Chad Nelson BROKERS: Derek Bestreich (@DerekBestreich), Steve Reynolds (@SteveReynoldsNYC), Tom Reynolds (@TomReynolds_CRE) & Brian Davila (@Vills25) - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $2,725,000 BSF: 22,374 ~ PPBSF: $121 SF: 7,500 ~ PPSF: $363

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$145,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,681.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,917.89
Annual Debt Service$155,014.68