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808 Metropolitan Avenue

Jacob Kohn Acquires Development Site On Metropolitan Ave In Brooklyn For $9.75M
SOLDDevelopment Site

Jacob Kohn Acquires Development Site On Metropolitan Ave In Brooklyn For $9.75M

808 Metropolitan Avenue

$9,750,000

Building Size

Asset Type

Development Site

Closing

Jun 28, 2022

AI

A development site located at 808 Metropolitan Ave. in Brooklyn has been sold in a recent transaction. The property, with a sale price of $9,750,000, is a significant asset in the market. With a building square footage (BSF) of 52,000, the price per building square footage (PPBSF) stands at $187, reflecting the value of the property.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $9,750,000
  • Address: 808 Metropolitan Ave.
  • Market: Brooklyn

The deal involved Jacob Kohn as the buyer and Speedway represented by Beth Hunter as the seller. The brokerage firm Ackman-Ziff facilitated the transaction with Andrew Sasson and Chad Sinsheimer serving as the brokers. Their roles were crucial in ensuring the successful completion of the deal.

Players

Andrew Sasson

Ackman-Ziff

Broker

$534.2M

vol

11 deals

Broker

Jacob Kohn

Jay Group

Buyer

$319.8M

vol

10 deals

Buyer
S
SpeedwaySeller

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.63%

Cash-on-Cash

-0.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93