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
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