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UPC Engineering Acquires Development Site In Greenwood Heights, Brooklyn For $2.28M

Property Image
SOLD
$2,280,000
Gabriel Kates
Adam Lobel
Derek Bestreich

New York

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Development Site10,034 SF
Sold 06/28/2021
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Property Image
SOLD

UPC Engineering Acquires Development Site In Greenwood Heights, Brooklyn For $2.28M

814 5th Avenue, Greenwood Heights, Brooklyn, NY, USA

See Similar Deals
Development Site10,034 SF
Sold 06/28/2021
Gabriel Kates
Adam Lobel
Derek Bestreich
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$227
Total Square Footage:10,034 SF
Transaction Type:Sale

UPC Engineering has purchased a development site in Greenwood Heights, Brooklyn for a total of $2,280,000. The property, located at 814 5th Avenue, is a development site with a lot size of 50.17 ft x 100 ft. The site was delivered with approved plans in place and has a building square footage of 10,034. The price per buildable square foot (PPBSF) is $227. The property is zoned as R6B.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $2,280,000
  • Buyer: UPC Engineering – Pamela Lee
  • Seller: Anna Kuzmik-Sampas
  • Brokers: Derek Bestreich, Adam Lobel & Gabriel Kates - Bestreich Realty Group

The deal was facilitated by brokers Derek Bestreich, Adam Lobel, and Gabriel Kates from Bestreich Realty Group. They represented both the buyer, UPC Engineering, and the seller, Anna Kuzmik-Sampas, in the transaction.

Players

Adam Lobel
Investment Property Realty Group (IPRG)
Adam Lobel
139 deals$592.1M volume(314) 920-8639
BROKER
Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Gabriel Kates
Block Real Estate Group
Gabriel Kates
59 deals$158.4M volume(508) 365-8278
BROKER

Details

SOLD
IMAGE: Adam Lobel, Derek Bestreich & Gabriel Kates DATE: 06/28/2021 ADDRESS: 814 5th Avenue MARKET: Greenwood Heights, Brooklyn ASSET TYPE: Development Site ~ ZONING: R6B BUYER: UPC Engineering – Pamela Lee SELLER: Anna Kuzmik-Sampas BROKERS: Derek Bestreich, Adam Lobel & Gabriel Kates - Bestreich Realty Group (@BRG_CRE) SALE PRICE: $2,280,000 BSF: 10,034 ~ PPBSF: $227 LOT SIZE: 50.17 ft x 100 ft NOTE: Site delivered with approved plans in place.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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