Guy Peleg Acquires Development Site In Williamsburg For $5.3M
SOLD
$5,282,500
New York
See Similar DealsDevelopment Site20,000 SF
Sold
SOLD
Guy Peleg Acquires Development Site In Williamsburg For $5.3M
717 Grand St, Brooklyn, NY 11211, USA
See Similar DealsDevelopment Site20,000 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$264
Total Square Footage:20000 SF
Transaction Type:Sale
A development site located at 717 Grand Street in Williamsburg, with a lot size of 50 ft x 100 ft (5,000 SF), has been sold for a price of $5,282,500. The property is zoned as C4-4A and has a floor area ratio (FAR) of 4. The buyer of the site is Guy Peleg, while the seller is Judy Levine. The transaction took place on September 4, 2020. The property's buildable square footage (BSF) is 20,000, with a price per buildable square footage (PPBSF) of $264.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,282,500
- Address: 717 Grand Street
- Market: Williamsburg
- Zoning: C4-4A
The deal was facilitated by two brokers: George Koncilja from Oxford Property Group and Carson Alexander from Triple Mint.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$281,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,767.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,041.75
Annual Debt Service$300,500.94
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