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
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.
Players
New York 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