Updated Dec 19, 2023
Solomon Schwimmer Acquires Dev Site In Brooklyn From Donald Brennan For $9.8M
822 Lexington Ave, New York, NY 10065, USA
Building Size
57,000 SF
Asset Type
Development Site
Closing
Nov 15, 2017
About this deal
AI
The development site located at 822 Lexington Avenue in Brooklyn has been sold for $9,800,000 in a closed transaction. The property, situated in the heart of New York, offers a prime location for potential development projects.
Summary of transation details
- Property Type: Dev Site
- Transaction Amount: $9,800,000
- Address: 822 Lexington Avenue
- City: New York
- Market: Brooklyn
The seller, Donald Brennan, successfully completed the sale of the property to the buyer, Solomon Schwimmer. With this transaction, Brennan has maximized the value of this prime development site, while Schwimmer has acquired a valuable asset with potential for future growth and profit.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93