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68 Havemeyer Street, Brookl...

Patoma Acquires Development Site On Havemeyer Street In Williamsburg, Brooklyn For $4.35M
SOLDDevelopment Site

Patoma Acquires Development Site On Havemeyer Street In Williamsburg, Brooklyn For $4.35M

68 Havemeyer Street, Brooklyn, NY 11211

$4,350,000

$480/SF

Building Size

9,045 SF

Asset Type

Development Site

Closing

Dec 29, 2021

AI

Located in Williamsburg, Brooklyn, the development site at 6-8 Havemeyer Street has been sold for a price of $4,350,000. The property spans a total square footage of 9,045, with a price per square foot of $480. The transaction took place on December 29, 2021.

Summary of Transaction Details

  • Property Type: Development Site
  • Transaction Amount: $4,350,000
  • Address: 6-8 Havemeyer Street, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn
  • Buyer: Patoma - Paul Henry & Tom Finnican
  • Seller: The Morawiec Family
  • Seller's Representative: Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky & Corey Haynes - Bestreich Realty Group (BRG)
  • BSF: 9,045
  • PPBSF: $480

The deal involved multiple key individuals and companies. Patoma, represented by Paul Henry and Tom Finnican, acted as the buyer. The seller, The Morawiec Family, was represented by Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, and Corey Haynes from Bestreich Realty Group (BRG).

Players

Corey Haynes

Investment Property Realty Group (IPRG)

Broker

$228M

vol

62 deals

Broker
Donal Flaherty
Verified Badge

Donal Flaherty

Investment Property Realty Group (IPRG)

Broker

$367.7M

vol

101 deals

Broker

New York 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

3.65%

Cash-on-Cash

-1.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93