Arik Bar Chaim Of Building BK Acquires Development Site From The Graham Family For $1.825M
652 Greene Avenue
$1,825,000
$228/SF
Building Size
8,000 SF
Asset Type
Development Site
Closing
Apr 27, 2025
AI
The asset involved in this transaction is a development site located at 652 Greene Avenue in Bedford Stuyvesant, Brooklyn. The sale price for the property was $1,825,000, with a building square footage of 8,000, resulting in a price per building square foot of $228.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,825,000
- Address: 652 Greene Avenue
- Market: Bedford Stuyvesant, Brooklyn
- BSF: 8,000
- Price Per BSF: $228
- Buyer: Arik Bar Chaim
- Buyer's Company: Building BK
- Seller: The Graham Family
- Brokers: John Lopez, Shaun Riney & Daniel Greenblatt
- Brokerage Firm: Marcus & Millichap
The transaction was facilitated by John Lopez, Shaun Riney, and Daniel Greenblatt, who represented the sellers in the deal through their affiliation with Marcus & Millichap. This team can be contacted for further inquiries concerning similar development sites or the impact of the City of Yes on land values across Brooklyn.
Players
Brooklyn 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
8.69%
Cash-on-Cash
-2.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93