Updated Oct 25, 2024
Dennis Glass Sells Brooklyn Development Site For $15.2M
73 Empire Boulevard, Brooklyn, NY 11225
$15,195,258
$214/SF
Building Size
70,774 SF
Asset Type
Development Site
Closing
Apr 11, 2021
About this deal
AI
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.
On the Map
$15,195,258
$214/SF
Development Site
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Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93