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557 3rd St.Brooklyn, NY 112...

Chris Maldari Acquires Gowanus Development Site For $7.35M
SOLDDevelopment Site

Chris Maldari Acquires Gowanus Development Site For $7.35M

557 3rd St.Brooklyn, NY 11215, USA

$7,350,000

$536/SF

Building Size

13,700 SF

Asset Type

Development Site

Closing

Sep 5, 2023

AI

A development site located at 557-567 3rd Avenue in Gowanus has been sold for $7,350,000. The property has a total square footage of 13,700, resulting in a price per square foot of $536. The building square footage of this site is 29,690, with a price per building square foot of $248.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $7,350,000
  • Address: 557-567 3rd Avenue, Gowanus
  • Square Footage: 13,700 SF
  • Price per Square Foot: $536
  • Building Square Footage: 29,690 BSF
  • Price per Building Square Foot: $248

Chris Maldari has purchased the development site at 557-567 3rd Avenue, Gowanus from Robert Khoo. The transaction was facilitated by brokers Jakub Nowak and Jesse Kay from Marcus & Millichap.

For more information on the sale of commercial properties, you can contact Jakub Nowak at 718-475-4353 or Jesse Kay at 718-475-4321.

Players

Jesse Kay

Marcus & Millichap

Broker

$114.1M

vol

28 deals

Broker

Market 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

2.16%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93