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815 Flatbush Ave, Brooklyn,...

Harry Einhorn Acquires Development Site On Flatbush Avenue For $10M
SOLDDevelopment Site

Harry Einhorn Acquires Development Site On Flatbush Avenue For $10M

815 Flatbush Ave, Brooklyn, NY 11226, USA

$10,000,000

$21/SF

Building Size

473,840 SF

Asset Type

Development Site

Closing

Nov 6, 2018

AI

Located at 815 Flatbush Avenue in the Flatbush / Prospects-Lefferts Gardens market, this development site was recently sold for a total price of $10,000,000. The property consists of a total buildable square footage (BSF) of 47,384, with a price per buildable square footage (PPBSF) of $211. The property is zoned as R7A, C2-4, allowing for various potential uses.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $10,000,000
  • Address: 815 Flatbush Avenue
  • Market: Flatbush / Prospects-Lefferts Gardens
  • BSF: 47,384
  • PPBSF: $211
  • Zoning: R7A, C2-4

Representing the seller, PBS One, LLC, was Bill Stathakos. On the buying side was Harry Einhorn. The brokers involved in the transaction were Edward Gevinski of JLL and DJ Johnston of B6. These individuals played crucial roles in facilitating the deal, ensuring a successful transaction between the buyer and seller.

Players

DJ Johnston

Matthews

Broker

$493.3M

vol

102 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

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

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93