Updated Oct 29, 2024
Pinnacle Ventures Acquires Development Site At 108 King Street In Red Hook, Brooklyn
108 King St, Charleston, SC 29401, USA
$950,000
$230/SF
Building Size
4,125 SF
Asset Type
Development Site
Closing
Aug 27, 2019
About this deal
AI
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.
Players
Charleston Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
16.70%
Cash-on-Cash
-4.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93