Updated Jul 24, 2026
Eliran Cohen Purchases Development Site From Ben Chu For $9.15M In Brooklyn
508 Graham Avenue, 514 Graham Avenue, 516 Graham Avenue & Newton Street
$9,150,000
Building Size
—
Asset Type
Development Site
Closing
Jul 9, 2026
About this deal
AI
The transaction involves a corner development site comprising four vacant lots located at 508 Graham Avenue, 514 Graham Avenue, 516 Graham Avenue, and Newton St. in Brooklyn. The sale price for the asset is $9,150,000, with a total square footage of 3,770, resulting in a price per building square foot of $2,427. This development site is situated in prime Greenpoint, Brooklyn.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,150,000
- Buyer: Eliran Cohen
- Seller: Ben Chu
- Seller's Representative: Robert Napolitano - Capri Jet Realty
Eliran Cohen is the buyer of the development site, while Ben Chu is the seller. Robert Napolitano of Capri Jet Realty serves as the seller's representative in this transaction.
On the Map
$9,150,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.73%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93