Ariel Kahen & Aaron Kahen Of KP Developers Acquire Development Site In Brooklyn For $940,000
SOLD
$940,000
New York
See Similar DealsDevelopment Site
Sold 01/23/2025
SOLD
Ariel Kahen & Aaron Kahen Of KP Developers Acquire Development Site In Brooklyn For $940,000
898 Madison Street
See Similar DealsDevelopment Site
Sold 01/23/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 898 Madison Street in Brooklyn. The sale price for this property was $940,000. The market value reflects its potential for residential and commercial development in an urban area.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $940,000
- Buyer: Ariel Kahen & Aaron Kahen - KP Developers
- Seller: U.S. Bank Trust National Association
Ariel Kahen and Aaron Kahen, acting as KP Developers, are actively seeking additional residential and commercial development opportunities across the five boroughs of New York City, which includes vacant buildings, free market buildings, retail, and office spaces.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$50,133.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,339.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,456.08
Annual Debt Service$53,472.95
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