Apex Development Group Acquires Land At 50 Woods Place In Brooklyn For $1.9M
50 Woods Place
$1,900,000
$162/SF
Building Size
11,692 SF
Asset Type
MultiFamily
Closing
Feb 3, 2025
AI
The asset involved in this transaction is a land parcel located at 50 Woods Place in Brooklyn. The property was sold for $1,900,000, featuring a total square footage of 11,692. This equates to a price per square foot of $162.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,900,000
- Address: 50 Woods Place
- Market: Brooklyn
- Square Footage: 11,692
- Price per Square Foot: $162
- Buyer: Apex Development Group
- Seller: Madison Square Boys & Girls Club
- Brokers: Jonathan Squires, Josh Neustadter, David Lebenstein & Austin Weiner - Cushman & Wakefield
The parties involved include Apex Development Group as the buyer and Madison Square Boys & Girls Club as the seller. The brokers representing the transaction were Jonathan Squires, Josh Neustadter, David Lebenstein, and Austin Weiner from Cushman & Wakefield.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93