Updated Dec 22, 2023
Abe Betesh Acquires Development Site In Crown Heights, Brooklyn For $4.58M
916 E New York Ave, Brooklyn, NY 11203, USA
$1,400,000
$30/SF
Building Size
46,650 SF
Asset Type
Development Site
Closing
Aug 5, 2020
About this deal
AI
A development site located at 916 East New York Ave. in Crown Heights, Brooklyn, was recently sold. The total sale price for the property was $4,580,500, which was achieved through multiple transactions. On 08/06/2020, the property at 916 East New York Ave. was sold for $1,400,000. Another portion of the site, located at 914 East New York Ave., was sold on 6/18/2020 for $1,280,500. Additionally, a third portion, situated at 906 East New York Ave., was sold on 6/25/2020 for $1,900,000. The blended total sale price reflects these individual transactions.
Summary of transaction details
- Property Type: Development site
- Total Sale Price: $4,580,500
- Address: 916 East New York Ave., Crown Heights, Brooklyn
Abe Betesh, from an undisclosed brokerage, represented the parties involved in the transaction. Unfortunately, no further information regarding additional individuals or companies involved in the deal was provided.
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93