Updated Oct 28, 2024
UPC Engineering Acquires Development Site In Greenwood Heights, Brooklyn For $2.28M
814 5th Avenue, Greenwood Heights, Brooklyn, NY, USA
$2,280,000
$227/SF
Building Size
10,034 SF
Asset Type
Development Site
Closing
Jun 27, 2021
About this deal
AI
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
New York 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
6.96%
Cash-on-Cash
-1.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93