Jacob Ganzfeld Purchases Development Site At 2183 & 2187 Ocean Avenue From Norma Veridiano For $3.975M
2183 Ocean Avenue & 2187 Ocean Avenue
$3,975,000
$252/SF
Building Size
15,720 SF
Asset Type
Development Site
Closing
Jan 15, 2025
AI
The development site located at 2183 Ocean Avenue & 2187 Ocean Avenue in Brooklyn was sold for a total of $3,975,000. The properties comprise a combined building square footage of 26,400, with a price per building square foot of $150. The total square footage for the properties stands at 7,860, which results in a price per square foot of $505.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,975,000
- Building Square Footage: 26,400
- Price per Building Square Foot: $150
- Total Square Footage: 7,860
- Price per Square Foot: $505
- Buyer: Jacob Ganzfeld
- Seller: Norma Veridiano
- Brokers: Jakub Nowak & Jesse Kay - Marcus & Millichap
- Date of Sale: 01/15/2025
The brokers Jakub Nowak and Jesse Kay from Marcus & Millichap represented the sale. They successfully negotiated an extended contract with a not-for-profit birthing center, facilitating a smooth relocation for the tenant without disrupting operations. The buyer also assumed the existing mortgage at the time of contract signing and later closed after securing building permits, benefiting both the buyer and seller.
Players
Brooklyn 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
3.99%
Cash-on-Cash
-1.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93