SOLDDevelopment Site
Joel Fried Purchases Development Site At 706 Nostrand Avenue From Charles A. Kattan
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