Idan Cohen Acquires Redevelopment Property On Bushwick Avenue In New York For $2M
950 Bushwick Avenue, Bushwick, Brooklyn, NY, USA
$2,000,000
$188/SF
Building Size
10,620 SF
Asset Type
Development Site
Closing
May 21, 2018
AI
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.
Players
New York 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93