Updated May 12, 2025
Weinstock Family Purchases Development Site At 11 Van Buren Street From Shahravan Family For $1.075M
11 Van Buren Street
$1,075,000
$530/SF
Building Size
2,025 SF
Asset Type
Development Site
Closing
Mar 5, 2025
About this deal
AI
This development site located at 11 Van Buren Street in Brooklyn was sold for $1,075,000. The property offers a total of 6,075 buildable square feet on a 2,025 square foot lot. The site previously had approved plans for a four-story building consisting of 8 residential units.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,075,000
- Buyer: Weinstock Family
- Seller: Shahravan Family
- Brokers: Sadya Liberow & Natali Gil - Asset CRG Advisors
- Buildable Square Footage: 6,075
- Price Per Buildable Square Foot: $177
- Lot Size: 2,025 square feet
Sadya Liberow and Natali Gil represented Asset CRG Advisors in this transaction. The company specializes in boutique developments and is actively marketing several other properties in the boroughs.
On the Map
$1,075,000
$530/SF
Development Site
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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
14.76%
Cash-on-Cash
-4.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93