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Joel Schwartz Acquires Land In Williamsburg Brooklyn From Jacob And Sydney Adler For $2.2M
SOLD
$2,200,000
New York
See Similar DealsLand6,075 SF
Sold 01/21/2025
SOLD
Joel Schwartz Acquires Land In Williamsburg Brooklyn From Jacob And Sydney Adler For $2.2M
182 South 9th Street
See Similar DealsLand6,075 SF
Sold 01/21/2025
Summary
NEW YORK
Asset Type:Land
Price Per Square Foot:$362
Total Square Footage:6,075 SF
Transaction Type:Sale
A vacant lot located at 182 South 9th Street in Williamsburg, Brooklyn has been acquired by Joel Schwartz through 182 South 9 LLC for a total of $2.2 million. The lot spans an area of 6,075 square feet, with a price per square foot calculated at $362.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,200,000
- Buyer: Joel Schwartz
- Seller: Jacob Adler & Sydney Adler
- Sale Date: 01/21/2025
The transaction involved developer Joel Schwartz, who plans to undertake ground-up development on the newly acquired lot. The sellers in this transaction were Jacob Adler and Sydney Adler, representing their interests in the property deal.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47
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