CW Realty Acquires Development Site In Crown Heights For $40 Million With Brokers Daniel O'Brien & Caroline Hodes
SOLD
$40,000,000
New York
See Similar DealsDevelopment Site274,450 SF
Sold 08/18/2025
SOLD
CW Realty Acquires Development Site In Crown Heights For $40 Million With Brokers Daniel O'Brien & Caroline Hodes
73 Empire Boulevard
See Similar DealsDevelopment Site274,450 SF
Sold 08/18/2025
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$145
Total Square Footage:274,450 SF
Transaction Type:Sale
The asset involved in this transaction is a development site located at 73 Empire Boulevard, situated in the Crown Heights market. The sale was completed for a total of $40,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $40,000,000
- Buyer: CW Realty
- Brokers: Daniel O'Brien & Caroline Hodes - Newmark
- Transaction Date: 8/18/2025
This transaction involved key representatives in the brokerage realm, specifically Daniel O'Brien and Caroline Hodes acting on behalf of Newmark, who facilitated the deal for the buyer, CW Realty.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88
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