Jacob Katz Acquires Development Site In Gowanus, Brooklyn For $13.9M
SOLD
$13,900,000
New York
See Similar DealsMixed-use
Sold 11/21/2023
SOLD
Jacob Katz Acquires Development Site In Gowanus, Brooklyn For $13.9M
526 Baltic Street
See Similar DealsMixed-use
Sold 11/21/2023
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
A development site located at 526 Baltic Street in Gowanus, Brooklyn has been sold for a total of $13,900,000. The property was purchased by Jacob Katz from Lynn Pedowitz. The deal was facilitated by Hirschy Zaks and Itanel Rahmani of Venture Capital Properties.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $13,900,000
- Address: 526 Baltic Street, Gowanus, Brooklyn
- Buyer: Jacob Katz
- Seller: Lynn Pedowitz
- Brokers: Hirschy Zaks & Itanel Rahmani - Venture Capital Properties
Hirschy Zaks and Itanel Rahmani of Venture Capital Properties represented the buyer and seller in the transaction. They played a crucial role in facilitating the deal between Jacob Katz and Lynn Pedowitz for the development site at 526 Baltic Street in Gowanus, Brooklyn.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$741,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,383.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,893.09
Annual Debt Service$790,717.10
Is there something missing? Send suggestions