Joel Fried Purchases Development Site At 706 Nostrand Avenue From Charles A. Kattan For $4.2M
706 Nostrand Avenue
Building Size
4,200 SF
Asset Type
Development Site
Closing
Jul 7, 2026
AI
The transaction involved a development site located at 706 Nostrand Avenue in Brooklyn. The site encompasses a total of 9,000 building square feet and 4,200 square feet of usable space, facilitating various development opportunities within the area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not specified
- Address: 706 Nostrand Avenue
- Market: Brooklyn
- Building Square Feet: 9,000
- Usable Square Feet: 4,200
- Buyer: Joel Fried
- Seller: Charles A. Kattan
- Brokers: Daniel Chung, Thomas Horrigan - Terra CRG
The deal was facilitated by brokers Daniel Chung and Thomas Horrigan, representing the interests of the buyer and seller respectively, ensuring a smooth transaction process in the vibrant Brooklyn market.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93