Jacob Katz Acquires Development Site In Gowanus, Brooklyn For $13.9M
526 Baltic Street
$13,900,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 21, 2023
AI
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
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93