Pinnacle Ventures Acquires Development Site At 108 King Street In Red Hook, Brooklyn
SOLD
$950,000
+ 2
South Carolina
See Similar DealsDevelopment Site4,125 SF
Sold 08/28/2019
SOLD
Pinnacle Ventures Acquires Development Site At 108 King Street In Red Hook, Brooklyn
108 King St, Charleston, SC 29401, USA
See Similar DealsDevelopment Site4,125 SF
Sold 08/28/2019
+ 2
Summary
SOUTH CAROLINA
Asset Type:Development Site
Price Per Square Foot:$230
Total Square Footage:4,125 SF
Transaction Type:Sale
Located at 108 King Street in Red Hook, Brooklyn, this development site was recently sold in a closed transaction. The property offers a prime location in the Red Hook market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $950,000
- Asking Price: $1,000,000
- Building Square Footage: 4,125
- Price per Building Square Foot: $230
The seller, John Lindstrom, sold the property to Pinnacle Ventures, represented by Josh Dardashtian. The transaction was facilitated by brokers Nowak & Partners of Marcus and Millichap, with Jesse Kay, Jakub Nowak, and Matthew Rosenzweig playing key roles in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$50,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,375.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,503.48
Annual Debt Service$54,041.82
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