Lubovitch Congregation Bais Avrohom Yitzchok Acquires School Building In East Flatbush, Brooklyn For $6M
$6,000,000
$612/SF
Building Size
9,800 SF
Asset Type
School
Closing
Jun 9, 2023
About this deal
AI
The Lubovitch Congregation Bais Avrohom Yitzchok has acquired the school building located at 305 Remsen Avenue in East Flatbush, Brooklyn. The property was sold by David Gold for a price of $6 million. The school building spans 9,800 square feet of built space and has an additional 14,498 square feet of air rights. This allows for a total buildable area of 24,297 square feet. The price per square foot for the transaction is $612.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $6,000,000
- Address: 305 Remsen Avenue, East Flatbush, Brooklyn
- Market: East Flatbush, Brooklyn
- Buyer: Lubovitch Congregation Bais Avrohom Yitzchok - David Jacobs
- Seller: David Gold
- Square Footage: 9,800 SF
- Price per Square Foot: $612
The seller, David Gold, was represented by Remsen Associates Company LLC in the transaction.
Players
Market School Market Snapshot
Boundary boundary · School · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93