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
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