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David Halberstam Acquires Development Site In Williamsburg, Brooklyn For $4.8M

Property Image
SOLD
$4,800,000

New York

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Development Site2,040 SF
Sold 10/20/2022
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Property Image
SOLD

David Halberstam Acquires Development Site In Williamsburg, Brooklyn For $4.8M

630 Grand Street, Brooklyn, New York 11211, United States

See Similar Deals
Development Site2,040 SF
Sold 10/20/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$2,352
Total Square Footage:2,040 SF
Transaction Type:Sale

A development site located at 630 Grand Street in Williamsburg, Brooklyn has been sold. The transaction took place on October 20, 2022, with David Halberstam purchasing the property from Sal Gjenasaj, Phillip Gjenasaj, and Izzy Islam Gjenasaj. The sale price for the property was $4,800,000. The development site has a total square footage of 2,040, with a price per square foot of $2,352. The building is expected to have a total of 8,000 buildable square feet, resulting in a price per buildable square foot of $600.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,800,000
  • Address: 630 Grand Street, Williamsburg, Brooklyn
  • Market: Williamsburg, Brooklyn

In this deal, David Halberstam acted as the buyer, while Sal Gjenasaj, Phillip Gjenasaj, and Izzy Islam Gjenasaj represented the sellers. The sale of this development site in Williamsburg, Brooklyn marks a significant transaction in the market.

Players

DH
David Halberstam
13 deals$174.3M volume
BUYER

Details

SOLD
IMAGE: 10/20/2022 ADDRESS: 630 Grand Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Development Site BUYER: David Halberstam SELLER: Sal Gjenasaj, Phillip Gjenasaj & Izzy Islam Gjenasaj SALE PRICE: $4,800,000 BSF: 8,000 ~ PPBSF: $600 SF: 2,040 ~ PPSF: $2,352

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$256,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
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