Updated Sep 5, 2024
David Halberstam Acquires Development Site In Brooklyn For $4.8M
628 Grand Street, New York City, New York 10002, United States
$4,775,000
$341,071/SF
Building Size
14 SF
Asset Type
Development Site
Closing
Oct 20, 2022
About this deal
AI
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.
On the Map
$4,775,000
$341,071/SF
Development Site
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New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.32%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93