Moishe Kofman & Sucher Ashkenazi Acquire Williamsburg Development Site For $3.95M
89 South 10th Street
$3,950,000
Building Size
—
Asset Type
Development Site
Closing
Dec 21, 2023
AI
A development site located at 89 South 10th Street in Williamsburg, Brooklyn has been sold for $3,950,000. The property was acquired by Moishe Kofman and Sucher Ashkenazi, representing Beis Alesk LLC, from Michael Weitzman's Double U Realty.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,950,000
- Address: 89 South 10th Street
- Market: Williamsburg, Brooklyn
Moishe Kofman and Sucher Ashkenazi, on behalf of Beis Alesk LLC, successfully acquired the development site at 89 South 10th Street in Williamsburg, Brooklyn for a total of $3,950,000 from Michael Weitzman's Double U Realty.
Brooklyn 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
4.02%
Cash-on-Cash
-1.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93