David Halberstam Acquires Development Site In Brooklyn For $4.8M
SOLD
$4,775,000
+ 1
New York
See Similar DealsDevelopment Site14 SF
Sold 10/20/2022
SOLD
David Halberstam Acquires Development Site In Brooklyn For $4.8M
628 Grand Street, New York City, New York 10002, United States
See Similar DealsDevelopment Site14 SF
Sold 10/20/2022
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$341,071
Total Square Footage:14 SF
Transaction Type:Sale
The development site located at 628 & 630 Grand Street in Brooklyn has been sold for a price of $4,775,000. The property consists of two lots and has a buildable square footage (BSF) of 14,750. The price per buildable square footage (PPBSF) for the site is $324. The transaction took place on October 20, 2022.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $4,775,000
- Address: 628 & 630 Grand Street, Brooklyn
- Market: Brooklyn
- Buildable Square Footage (BSF): 14,750
- Price Per Buildable Square Footage (PPBSF): $324
The buyer of the property is David Halberstam, while the Gjenasaj Family serves as the seller. The deal was facilitated by brokers Amit Doshi, Shallini Mehra, and Chirag Doshi from the Meridian Capital Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$254,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,964.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,635.94
Annual Debt Service$271,631.23
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