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Edward Glazarov Acquires Development Site In Flatbush, Brooklyn For $1.7M

Property Image
SOLD
$1,687,500
Zalman Yarmush
Daniel Greenblatt
Shaun Riney
+ 1

New York

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Development Site103,610 SF
Sold 12/12/2019
the dealplayerscompscontact
Property Image
SOLD

Edward Glazarov Acquires Development Site In Flatbush, Brooklyn For $1.7M

593 E 17th St, Brooklyn, NY 11226, USA

See Similar Deals
Development Site103,610 SF
Sold 12/12/2019
Zalman Yarmush
Daniel Greenblatt
Shaun Riney
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$16
Total Square Footage:103,610 SF
Transaction Type:Sale

A development site located at 593 East 17th Street in Flatbush, Brooklyn has been sold for a total price of $1,687,500. The site, with a buildable area of 10,361 square feet and a price per buildable square foot (PPBSF) of $163, offers the potential for the construction of four units. The purchase price per unit (PPU) stands at $421,875. The transaction involved the seller, Arastu Chaudhury, and the buyer, Edward Glazarov.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,687,500
  • Buildable Square Footage: 10,361
  • PPBSF: $163
  • Units: 4
  • PPU: $421,875
  • Seller: Arastu Chaudhury
  • Buyer: Edward Glazarov

The sale was facilitated by brokers Shaun Riney, Dan Greenblatt, and Zalman Yarmush from Marcus & Millichap. Their expertise and assistance were essential in completing this deal.

Players

Zalman Yarmush
Yarmush Investment Group
Zalman Yarmush
25 deals$90.8M volume(347) 534-7267
BROKER
Daniel Greenblatt
Marcus & Millichap
Daniel Greenblatt
69 deals$263.4M volume
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
357 deals$1.8B volume(718) 475-4369
BROKER
EG
Edward Glazarov
2 deals$4.5M volume
BUYER

Details

SOLD
IMAGE: Dan Greenblatt, Shaun Riney, Zalman Yarmush DATE: 12/12/2019 ADDRESS: 593 East 17th Street MARKET: Flatbush, Brooklyn ASSET TYPE: Development Site SALE PRICE: $1,687,500 BSF: 10,361 PPBSF: $163 UNITS: 4 PPU: $421,875 SELLER: Arastu Chaudhury BUYER: Edward Glazarov BROKERS: Shaun Riney, Dan Greenblatt, Zalman Yarmush – Marcus & Millichap

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

$90,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,995.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,999.61
Annual Debt Service$95,995.33