Park Slope Development Site Sells For $7.4M Off-market By Daniel Barcelowsky - EVRG Realty
SOLD
$7,400,000
New York
See Similar DealsDevelopment Site24,000 SF
Sold 06/07/2021
SOLD
Park Slope Development Site Sells For $7.4M Off-market By Daniel Barcelowsky - EVRG Realty
63-65 4th Street, Park Slope, Brooklyn, NY, USA
See Similar DealsDevelopment Site24,000 SF
Sold 06/07/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$308
Total Square Footage:24,000 SF
Transaction Type:Sale
A development site located at 63-65 Fourth Avenue in Park Slope has been sold for $7,400,000. The off-market transaction was completed on 06/07/2021. The lot size of the development site is 40 x 88ft, offering ample space for future construction. The property is a prime opportunity for development, with a buildable square footage (BSF) of 24,000. The price per buildable square footage (PPBSF) is $308.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $7,400,000
- Address: 63-65 Fourth Avenue
- Market: Park Slope
- Lot Size: 40 x 88ft
- BSF: 24,000
- PPBSF: $308
The deal was facilitated by Daniel Barcelowsky of @EVRGRealty. As the broker representative, Barcelowsky played a pivotal role in closing the transaction. His expertise in the Park Slope market ensured a successful sale of the development site.
It's important to note that this particular development site was sold off-market, indicating the strong demand and competitiveness in Park Slope's real estate market.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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