Updated Dec 21, 2023
Park Slope Development Site Sells For $7.4M Off-market By Daniel Barcelowsky - EVRG Realty
63-65 4th Street, Park Slope, Brooklyn, NY, USA
$7,400,000
$308/SF
Building Size
24,000 SF
Asset Type
Development Site
Closing
Jun 6, 2021
About this deal
AI
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.
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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93