facebook
Traded Co logo
Submit

Galaxy Developers Acquires Development Site In Williamsburg, Brooklyn For $5M

Property Image
SOLD
$5,000,000

New York

See Similar Deals
Development Site40 SF
Sold 03/01/2023
the dealplayerscompscontact
Property Image
SOLD

Galaxy Developers Acquires Development Site In Williamsburg, Brooklyn For $5M

66 Gerry Street, Brooklyn, New York 11206, United States

See Similar Deals
Development Site40 SF
Sold 03/01/2023
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$125,000
Total Square Footage:40 SF
Transaction Type:Sale

The asset involved in this transaction is a development site located at 66 Gerry Street in Williamsburg, Brooklyn. The sale was completed on 01/03/2023 for a price of $5,000,000, with the total square footage of the property being 40,000, yielding a price per square foot of $125.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $5,000,000
  • Address: 66 Gerry Street
  • Market: Williamsburg, Brooklyn
  • Square Footage: 40,000
  • Price per Square Foot: $125
  • Buyer: Galaxy Developers - Rafael Rabinowitz & Rabsky Group - Isaac Rabinowitz
  • Seller: Abraham Brach

The key individuals involved in the transaction include Rafael Rabinowitz of Galaxy Developers and Isaac Rabinowitz of Rabsky Group representing the buyer. The seller of the property is Abraham Brach, completing this significant transaction in the development market.

Players

AB
Abraham Brach
11 deals$281.7M volume
BROKER
AB
Abraham Brach
11 deals$281.7M volume
SELLER

Details

SOLD
IMAGE: 01/03/2023 ADDRESS: 66 Gerry Street MARKET: Williamsburg, Brooklyn ASSET TYPE: Development Site BUYER: Galaxy Developers - Rafael Rabinowitz & Rabsky Group (@RabskyGroup) - Isaac Rabinowitz SELLER: Abraham Brach SALE PRICE: $5,000,000 SF: 40,000 ~ PPSF: $125

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

$266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61