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Moishe Kofman & Sucher Ashkenazi Acquire Williamsburg Development Site For $3.95M
SOLD
$3,950,000
New York
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Sold
SOLD
Moishe Kofman & Sucher Ashkenazi Acquire Williamsburg Development Site For $3.95M
89 South 10th Street
See Similar DealsDevelopment Site
Sold
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$210,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,033.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,725.02
Annual Debt Service$224,700.18
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