Updated Dec 21, 2023
Marcy Heights Acquires Development Site In Bedford-Stuyvesant, Brooklyn For $1.45M
679 Marcy Ave, Brooklyn, NY 11216, USA
$1,450,000
$168/SF
Building Size
8,625 SF
Asset Type
Development Site
Closing
Jul 7, 2020
About this deal
AI
The development site located at 679 Marcy Avenue in Bedford-Stuyvesant, Brooklyn has been sold for a price of $1,450,000. The property spans a total of 8,625 square feet and has a price per buildable square foot (PPBSF) of $168. The transaction took place on July 8, 2020.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,450,000
- Address: 679 Marcy Avenue, Bedford-Stuyvesant, Brooklyn
- Market: Bedford-Stuyvesant, Brooklyn
- Seller: Clarence Hamlin Jr.
- Buyer: Marcy Heights
Derek Bestreich, Steve Reynolds, Tom Reynolds, and Brian Davila from BRG's Northeast Brooklyn & Queens Team represented the buyer and seller in this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.94%
Cash-on-Cash
-3.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93