facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Development Site

/

Sale

/

71 Lincoln Place

Updated May 12, 2025

 Acquires Development Site In Brooklyn From The University Settlement Society For $12.55M
SOLDDevelopment Site

Acquires Development Site In Brooklyn From The University Settlement Society For $12.55M

71 Lincoln Place

$25,550,000

$1,159/SF

Building Size

22,039 SF

Asset Type

Development Site

Closing

Apr 10, 2025

About this deal

AI

The property asset involved in the transaction is a development site located at 71 Lincoln Place in Brooklyn. The transaction was completed for a sale price of $12,550,000, with a building square footage (BSF) of 23,000, resulting in a price per building square foot (PPBSF) of $546. The total square footage (SF) of the property is 22,039, which corresponds to a price per square foot (PPSF) of $569.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $12,550,000
  • BSF: 23,000
  • PPBSF: $546
  • SF: 22,039
  • PPSF: $569
  • Buyer:
  • Seller: The University Settlement Society of New York
  • Seller's Representative: Daniel Kaplan & Justin Arzi - CBRE

This transaction was facilitated by Daniel Kaplan and Justin Arzi, who represent the seller, The University Settlement Society of New York, through their affiliation with CBRE. The deal was successfully concluded on April 10, 2025, establishing a significant interaction between the buyer and seller in the Brooklyn market.

On the Map

Open live map

$25,550,000

$1,159/SF

Development Site

View full map

Players

Justin Arzi

CBRE

Broker

$1.2B

vol

39 deals

Broker
Bilt advertisement

Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Deal FAQ

About $1.2K per square foot on a published $25.6M for 22,039 square feet (2025).

Visit Justin Arzi to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets