United Elite Group Acquires Development Site In Park Slope, Brooklyn For $9.75M
250 Flatbush Avenue, Brooklyn, New York 11217, United States
$9,750,000
$1,626/SF
Building Size
5,995 SF
Asset Type
Retail
Closing
Feb 2, 2022
About this deal
AI
A development site located at 250 Flatbush Ave in Park Slope, Brooklyn, has been sold in a transaction worth $9,750,000. The property measures 33,000 square feet, resulting in a price per buildable square foot (PPBSF) of $295. The sale took place on February 3, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,750,000
United Elite Group purchased the development site from Michael Pintchik. Ben Khakshoor, from Rosewood Realty Group, represented both the buyer and the seller in this deal.
On the Map
$9,750,000
$1,626/SF
Retail
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Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93