Idan Cohen Acquires Redevelopment Property On Bushwick Avenue In New York For $2M
SOLD
$2,000,000
New York
See Similar DealsDevelopment Site10,620 SF
Sold 05/22/2018
SOLD
Idan Cohen Acquires Redevelopment Property On Bushwick Avenue In New York For $2M
950 Bushwick Avenue, Bushwick, Brooklyn, NY, USA
See Similar DealsDevelopment Site10,620 SF
Sold 05/22/2018
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$188
Total Square Footage:10,620 SF
Transaction Type:Sale
Located at 950 Bushwick Avenue in Bushwick, Brooklyn, this property transaction involved the sale of a redevelopment asset. The transaction took place on May 22, 2018.
Summary of transaction details:
- Property Type: Redevelopment
- Transaction Amount: $2,000,000
- Address: 950 Bushwick Avenue, New York
- Market: Bushwick, Brooklyn
- BSF: 10,620 sf
- Price Per BSF: $188
- Units: 2
The seller in this transaction was Peter Marrero, while the buyer was Idan Cohen. The deal was facilitated by the brokers from Marcus and Millichap, including Shaun Riney, Tom Shihadeh, and Andrew Reiter.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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