Updated Dec 19, 2023
Joseph And Raymond Roubeni Acquire Development Site On Lenox Road In Flatbush, Brooklyn For $3.4M
342 Lenox Road, Brooklyn, New York 11226, United States
$3,400,000
$1,298/SF
Building Size
2,618 SF
Asset Type
MultiFamily
Closing
Jan 24, 2022
About this deal
AI
A development site located at 342 Lenox Road in Flatbush, Brooklyn has been sold for $3,400,000. The property spans 32,140 square feet, resulting in a price per square foot of $106. The transaction took place on January 20, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,400,000
- Address: 342 Lenox Road
- Market: Flatbush, Brooklyn
- Buyer: Joseph Roubeni & Raymond Roubeni
- Seller: Bill Selfridge & Donna Selfridge
Derek Bestreich, Steve Reynolds, and Tom Reynolds from Bestreich Realty Group (BRG) represented the buyer and seller in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93