Updated Dec 19, 2023
SOLDDevelopment Site
Alexander Mayden Acquires Development Site In Bay Ridge, Brooklyn For $6M
9701 3rd Ave, Brooklyn, NY 11209, USA
Building Size
210,900 SF
Asset Type
Development Site
Closing
Feb 8, 2018
About this deal
AI
A development site located at 9701 3rd Avenue in Bay Ridge, Brooklyn has been sold for $6,000,000. The property spans 21,090 square feet and has a price per buildable square foot of $284.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $6,000,000
- Address: 9701 3rd Avenue, Bay Ridge, Brooklyn
- Market: Bay Ridge, Brooklyn
- BSF (Buildable Square Feet): 21,090 sf
- PPBSF (Price Per Buildable Square Foot): $284
The seller of the development site is Adam Friedman, while the buyer is Alexander Mayden.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93