Louis Lebovits, Moishe Loketch, Pinny Loketch & Allan Lebovits Acquire Development Site In Prospect Heights, Brooklyn For $12M
SOLD
$12,000,000
+ 2
New York
See Similar DealsDevelopment Site
Sold 09/01/2023
SOLD
Louis Lebovits, Moishe Loketch, Pinny Loketch & Allan Lebovits Acquire Development Site In Prospect Heights, Brooklyn For $12M
630 Grand Ave Brooklyn, NY 11238, USA
See Similar DealsDevelopment Site
Sold 09/01/2023
+ 2
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
A development site located at 630 Grand Avenue and 399 Prospect Place in Prospect Heights, Brooklyn, has been sold for a total of $12,000,000. The property, spanning an undisclosed square footage, was purchased by Louis Lebovits, Moishe Loketch, Pinny Loketch, and Allan Lebovits.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,000,000
- Address: 630 Grand Avenue & 399 Prospect Place, Prospect Heights, Brooklyn
- Buyer: Louis Lebovits, Moishe Loketch, Pinny Loketch & Allan Lebovits
- Seller: Charles Miele
- Broker: Abe Wurzberger - SPR Group
Abe Wurzberger from SPR Group represented the buyer in this transaction. The seller, Charles Miele, successfully closed the deal with the mentioned buyer group. No additional information is available regarding the specific plans for this development site.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
Is there something missing? Send suggestions