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Enrico Ferri, Eric Carino & Itai Nave Of Unicorn Properties Group Acquire Development Site In Brooklyn For $2.48M

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SOLD
$2,478,600

New York

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Development Site
Sold 03/05/2025
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SOLD

Enrico Ferri, Eric Carino & Itai Nave Of Unicorn Properties Group Acquire Development Site In Brooklyn For $2.48M

237 Pacific Street

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Development Site
Sold 03/05/2025
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Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

A development site located at 237 Pacific Street in Brooklyn has been sold for $2,478,600. The asset encompasses 5,625 square feet, resulting in a price per building square foot of $440.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,478,600
  • Buyer: Enrico Ferri, Eric Carino & Itai Nave - Unicorn Properties Group
  • Seller: Nicholas Quinones
  • Building Square Footage: 5,625
  • Price Per Building Square Foot: $440

The transaction involved key individuals Enrico Ferri, Eric Carino, and Itai Nave, who represent Unicorn Properties Group as the buyers. Nicholas Quinones is the seller of the property. Eric Carino is available for contact at the office number 516-789-2699 or mobile number 718-844-1118, and can be reached via email at [email protected]. The buyers are actively seeking to purchase single and multi-unit properties in North-Brooklyn, Northwestern Brooklyn, Central Brooklyn near Prospect Park, and Ridgewood Queens.

Players

10 deals$12.2M volume
BUYER


BUYER

Details

SOLD
IMAGE: Eric Carino, Enrico Ferri & Itai Nave DATE: 3/5/2025 ADDRESS: 237 Pacific Street MARKET: Brooklyn ASSET TYPE: Development Site BUYER: Enrico Ferri, Eric Carino & Itai Nave - Unicorn Properties Group (@UnicornPropertiesGroup) SELLER: Nicholas Quinones SALE PRICE: $2,478,600 BSF: 5,625 ~ PPBSF: $440 NOTE FROM BUYER: We are actively purchasing single & multi-unit properties in North-Brooklyn, North-Western Brooklyn, Central Brooklyn(near Prospect Park) & Ridgewood Queens. •Units: 1 - 5 •Free market •Residential(Non-commercial) •Residential Development 20k buildable Sq Ft(Minimum) Contact: Eric Carino Office: 516-789-2699 Mobile: 718-844-1118 Email: [email protected]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$132,192.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,805.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,749.83
Annual Debt Service$140,997.94