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950 Bushwick Avenue, Bushwi...

Idan Cohen Acquires Redevelopment Property On Bushwick Avenue In New York For $2M
SOLDDevelopment Site

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

Andrew Reiter

Broker

$2M

vol

3 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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