Anshel Friedman Acquires Development Property In East Flatbush, Brooklyn For $11.75M
SOLD
$11,750,000
New York
See Similar DealsDevelopment Site108,175 SF
Sold 10/04/2018
SOLD
Anshel Friedman Acquires Development Property In East Flatbush, Brooklyn For $11.75M
885 Rogers Ave, Brooklyn, NY 11226, USA
See Similar DealsDevelopment Site108,175 SF
Sold 10/04/2018
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$108
Total Square Footage:108,175 SF
Transaction Type:Sale
The development property located at 885 Rogers Avenue in Brooklyn, specifically in the East Flatbush neighborhood, has been sold in a closed transaction. The closing date for this transaction was on October 4, 2018. The property, with a total buildable square footage of 163, was sold for a price of $11,750,000.
Summary of transaction details
- Property Type: Development
- Transaction Amount: $11,750,000
- Address: 885 Rogers Avenue, Brooklyn
- Neighborhood: East Flatbush
- Total Buildable Square Footage: 163
Anshel Friedman has purchased the property from The League Treatment Center PP. The buyer was represented by TerraCRG's investment sales team, led by Ofer Cohen, Dan Marks, and their team of brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$626,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,745.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,700.99
Annual Debt Service$668,411.93
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