Salvation Church Of God Acquires Development Site In Brooklyn From The Vona Family For $20.575M
SOLD
New York
See Similar DealsDevelopment Site117,345 SF
Sold
SOLD
Salvation Church Of God Acquires Development Site In Brooklyn From The Vona Family For $20.575M
6065 Strickland Avenue
See Similar DealsDevelopment Site117,345 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$175
Total Square Footage:117345 SF
Transaction Type:Sale
The development site located at 6065 Strickland Avenue in Brooklyn has been sold for a price of $20,575,000. The asset encompasses a total of 117,345 square feet, resulting in a price per square foot of $175.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $20,575,000
- Building Square Feet: 117,345
- Price per Building Square Foot: $175
- Seller: The Vona Family
- Buyer: Salvation Church of God
- Brokers: Michael Mazzara, Ethan Stanton, Brendan Maddigan, Joseph Lopresti, Kyle Crennan - JLL; Christopher Cavorti, Michael Laurent - The Corcoran Group
The brokers involved in the transaction represent the buyer and seller, with JLL representing The Vona Family and the Corcoran Group representing Salvation Church of God in this deal.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,097,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,098.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,536.00
Annual Debt Service$1,170,431.96
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