Hector Casillas & Alice Fontanez Sell Development Site In Gowanus Brooklyn For $1.75M
SOLD
$1,750,000
+ 1
New York
See Similar DealsDevelopment Site2,805 SF
Sold
SOLD
Hector Casillas & Alice Fontanez Sell Development Site In Gowanus Brooklyn For $1.75M
99 16th Street
See Similar DealsDevelopment Site2,805 SF
Sold
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$623
Total Square Footage:2805 SF
Transaction Type:Sale
The asset involved in the transaction is a development site located at 99–101 16th Street in Gowanus, Brooklyn. The sale price was $1,750,000, with a building square footage of 5,610 and a price per square foot of $311.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,750,000
- Building Square Feet: 5,610
- Price per Square Foot: $311
- Seller: Hector Casillas & Alice Fontanez
- Brokers: Derek Bestreich, Luke Sproviero, Adam Lobel & Toby Waring - Investment Property Realty Group (IPRG)
- Date of transaction: 12/11/2025
The brokers facilitating the sale were Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring, representing the sellers Hector Casillas and Alice Fontanez in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$93,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,217.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,295.89
Annual Debt Service$99,550.71
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