facebook
Traded Co logo
Submit

Dave Nourmand Acquires Development Site In Bedford-Stuyvesant, Brooklyn For $775,000

Property Image
SOLD
$775,000

New York

See Similar Deals
Development Site5,520 SF
Sold 09/10/2020
the dealplayerscompscontact
Property Image
SOLD

Dave Nourmand Acquires Development Site In Bedford-Stuyvesant, Brooklyn For $775,000

83 Malcolm X Boulevard, Brooklyn, NY 11221

See Similar Deals
Development Site5,520 SF
Sold 09/10/2020
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$140
Total Square Footage:5,520 SF
Transaction Type:Sale

A development site located at 83 Malcolm X Boulevard in Bedford-Stuyvesant, Brooklyn has been sold in a recent transaction. The property, with a lot size of 20 ft x 92 ft, is zoned as R6A, making it suitable for development. The sale was facilitated by Adam Traub from Curb Capital and the buyer was Dave Nourmand.

Summary of transaction details:

  • Property Type: Development Site
  • Sale Price: $775,000
  • Building Square Footage: 5,520
  • Price per Building Square Foot: $140
  • Address: 83 Malcolm X Boulevard, Bedford-Stuyvesant, Brooklyn
  • Market: Bedford-Stuyvesant, Brooklyn

The sale was closed on 09/10/2020 after the contract was signed on August 1st. The buyer, Dave Nourmand, is an experienced investor who plans to develop an 8-unit rental project on the site. Interested parties can contact Adam Traub at Curb Capital for similar development and value add projects in New York City.

Players

Adam Traub
Adam Traub
15 deals$68.9M volume
BROKER

Details

SOLD
IMAGE: Adam Traub (@Curb_Capital) & @DaveNourmand DATE: 09/10/2020 ADDRESS: 83 Malcolm X Boulevard MARKET: Bedford-Stuyvesant, Brooklyn ASSET TYPE: Development Site ~ ZONING: R6A BUYER: @DaveNourmand SELLER: Alex Nogreh BROKER: Adam Traub @Curb_Capital SALE PRICE: $775,000 BSF: 5,520 / PPBSF: $140 LOT SIZE: 20 ft x 92 ft NOTE: Contract signed August 1st and closed a little over a month later. The experienced investor is developing an exciting 8 rental unit project in Prime Bed-Stuy. If you don’t think the world is ending, contact [email protected] to gain access to similar development and value add projects across NYC with motivated Sellers.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$41,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,753.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,673.90
Annual Debt Service$44,086.74