Updated Oct 25, 2024
Abe Friedman Acquires Development Site On Bedford Avenue, Brooklyn For $1.5M
955 Bedford Ave, Brooklyn, NY 11205, USA
$1,500,000
$197/SF
Building Size
7,590 SF
Asset Type
Development Site
Closing
Apr 6, 2020
About this deal
AI
A development site located at 955 Bedford Avenue in Bedford-Stuyvesant, Brooklyn has been sold. The property was sold for a price of $1,500,000. The site has a total square footage of 7,590 with a price per square foot of $198. The transaction took place on April 7, 2020.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,500,000
- Address: 955 Bedford Avenue
- Market: Bedford-Stuyvesant, Brooklyn
- Seller: Eileen Adams & Elaine Adams
- Buyer: Abe Friedman
- Brokers: Steve Reynolds, Luke Sproviero, Tom Reynolds – Bestreich Realty Group @BRG_CRE
- Total Square Footage: 7,590
- Price Per Square Foot: $198
The deal was facilitated by the brokers Steve Reynolds, Luke Sproviero, and Tom Reynolds from Bestreich Realty Group. They represented both the buyer and the seller in the transaction.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93