Updated Nov 28, 2024
Skyway Equities Acquires Development Site In Clinton Hill For $9.9M
927 Atlantic Avenue
$9,900,000
$443/SF
Building Size
22,300 SF
Asset Type
Development Site
Closing
Nov 8, 2022
About this deal
AI
A development site located at 927 Atlantic Avenue in Clinton Hill has been sold in a closed transaction. The property, spanning 22,300 square feet, was sold for a total price of $9,900,000, resulting in a price per square foot of $444.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,900,000
- Address: 927 Atlantic Avenue, Clinton Hill
- Market: Clinton Hill
- Buyer: Skyway Equities - Gustavo Tome & Isidore Karten
- Seller: Hirshmark Capital - Igor Vaysburg
- Brokers: Yosef Katz, Erik Yankelovich, Shlomo Antebi & Natan Safdieh - Atlas Realty Group Partners LLC
- SF: 22,300
- PPSF: $444
Atlas Realty Group Partners LLC represented the construction lender of this property, facilitating the successful sale of the stalled development site.
On the Map
$9,900,000
$443/SF
Development Site
View full map
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Yosef Katz to view all their deals.
Browse New York development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93