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BWH Group Acquires Development Site In Brooklyn For $17 Million With Brokers Robert Shapiro, Ian Brooks & Nicholas Kontos

Property Image
SOLD
$17,000,000
Nicholas Kontos
Robert (Rob) Shapiro
Ian Brooks

New York

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Development Site
Sold 12/20/2024
the dealplayerscompscontact
Property Image
SOLD

BWH Group Acquires Development Site In Brooklyn For $17 Million With Brokers Robert Shapiro, Ian Brooks & Nicholas Kontos

9305 5th Avenue

See Similar Deals
Development Site
Sold 12/20/2024
Nicholas Kontos
Robert (Rob) Shapiro
Ian Brooks
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

The asset involved in this transaction is a development site located at 9305 5th Avenue in Brooklyn. The sale price of the property was $17,000,000, with a buildable square footage (BSF) of 85,000, resulting in a price per buildable square foot (PPBSF) of $200.

Summary of transaction details:

The transaction was executed by the buyer, BWH Group, with the assistance of brokers Robert Shapiro, Ian Brooks, and Nicholas Kontos from CBRE. These individuals played a pivotal role in facilitating the deal for the development site in the Brooklyn market.

Players

Ian Brooks
CBRE
Ian Brooks
50 deals$431.6M volume(212) 984-8107
BROKER
Robert (Rob) Shapiro
CBRE
Robert Shapiro
78 deals$882.9M volume(212) 984-8082
BROKER
Nicholas Kontos
CBRE
Nicholas Kontos
30 deals$362.9M volume(857) 222-5411
BROKER

Details

SOLD
IMAGE: Robert Shapiro, Ian Brooks & Nicholas Kontos DATE: 12/20/2024 ADDRESS: 9305 5th Avenue MARKET: Brooklyn ASSET TYPE: Development Site BUYER: BWH Group BROKERS: Robert Shapiro (@RMShapiro), Ian Brooks (@Eighteenhundo) & Nicholas Kontos (@NYInvestmentSales) - CBRE (@CBRE) SALE PRICE: $17,000,000 BSF: 85,000 ~ PPBSF: $200

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$906,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08