Dennis Glass Sells Brooklyn Development Site For $15.2M
SOLD
$15,195,258
+ 2
New York
See Similar DealsDevelopment Site70,774 SF
Sold
SOLD
Dennis Glass Sells Brooklyn Development Site For $15.2M
73 Empire Boulevard, Brooklyn, NY 11225
See Similar DealsDevelopment Site70,774 SF
Sold
+ 2
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$214
Total Square Footage:70774 SF
Transaction Type:Sale
An undeveloped site located at 73-99 Empire Blvd. in Brooklyn has been sold for a transaction price of $15,195,258. The property is a development site with a building square footage (BSF) of 70,774, equating to a price per building square footage (PPBSF) of $214. The sale took place on April 12, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,195,258
- Address: 73-99 Empire Blvd., Brooklyn
- Market: Brooklyn
- BSF: 70,774
- PPBSF: $214
The seller of the property was Dennis Glass, with representation from Jakub Nowak from The Nowak Group, Jason Grunberg, John Brennan from The Brennan Team of MM, and Samuel Finkler from MarcusMillichap NY.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$810,413.76
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,985.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,033.28
Annual Debt Service$864,399.30
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