Mazzei Family Sells Development Site At 563 Sackett Street Brooklyn For $58.5M
SOLD
$56,500,000
New York
See Similar DealsDevelopment Site38,499 SF
Sold
SOLD
Mazzei Family Sells Development Site At 563 Sackett Street Brooklyn For $58.5M
563 Sackett Street
See Similar DealsDevelopment Site38,499 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1467
Total Square Footage:38499 SF
Transaction Type:Sale
This development site located at 563 Sackett Street in Brooklyn was sold at a price of $58,500,000. The property has a total buildable square footage of 258,000, resulting in a price per buildable square foot of $227.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $58,500,000
- Address: 563 Sackett Street
- Market: Brooklyn
- Buildable Square Feet: 258,000
- Price Per Buildable Square Foot: $227
- Seller: Mazzei Family
- Broker Representatives: Michael Mazzara, Ethan Stanton & Brendan Maddigan - JLL
The transaction was represented by brokers Michael Mazzara, Ethan Stanton, and Brendan Maddigan from JLL, who facilitated the sale for the seller, the Mazzei Family.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$200,732.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$267,838.82
Annual Debt Service$3,214,065.90
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