Global Industries Acquires Development Site In Park Slope For $13.2M
SOLD
$13,200,000
+ 2
New York
See Similar DealsDevelopment Site180,160 SF
Sold 02/07/2020
SOLD
Global Industries Acquires Development Site In Park Slope For $13.2M
75 4th Ave, Brooklyn, NY 11217, USA
See Similar DealsDevelopment Site180,160 SF
Sold 02/07/2020
+ 2
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$73
Total Square Footage:180,160 SF
Transaction Type:Sale
The development site located at 75 Fourth Avenue in Park Slope has been sold for $13,200,000. The property spans 18,016 square feet, with a price per square foot of $732. The building has a total square footage of 37,252, resulting in a price per buildable square foot of $354.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,200,000
- Square Footage: 18,016
- Price per Square Foot: $732
- Total Buildable Square Footage: 37,252
- Price per Buildable Square Foot: $354
The seller of the property was the Sparagna Family, while the buyer was Tolib Mansurov from Global Industries. The deal was facilitated by brokers Ofer Cohen, Dan Marks, Daniel Lebor, Peter Matheos, and Mike Rafter from TerraCRG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$703,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,896.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,574.73
Annual Debt Service$750,896.81
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