Avery Hall Acquires Development Site In Fort Greene For $6.7M
SOLD
New York
See Similar DealsMixed-use190,340 SF
Sold 01/24/2020
SOLD
Avery Hall Acquires Development Site In Fort Greene For $6.7M
115 Willoughby St, Brooklyn, NY 11201, USA
See Similar DealsMixed-use190,340 SF
Sold 01/24/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$35
Total Square Footage:190,340 SF
Transaction Type:Sale
A mixed-use development site located at 115 Willoughby Street in Fort Greene has been sold for $6,700,000. The property spans 19,034 square feet and is valued at a rate of $352 per square foot.
Summary of transation details
- Property Type: Mixed-use / Development site
- Transaction Amount: $6,700,000
- Building Square Footage: 19,034
- Price Per Square Foot: $352
- Market: Fort Greene
Avery Hall, represented by Brian Ezra and Avi Fisher, emerged as the buyer in this transaction. They acquired the property from Selnes, with Frank Selnes and Stephen Schipani as the sellers. The seller's representative in the deal was Michael Cimino.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$357,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02
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