Alex Weiss Acquires Development Site In Flatbush, Brooklyn For $3.8M
1205 Flatbush Ave #1209, Brooklyn, Ny 11226, Usa
$3,800,000
$79/SF
Building Size
47,550 SF
Asset Type
Development Site
Closing
Sep 14, 2020
AI
A development site located at 1205-1209 Flatbush Ave. in Flatbush, Brooklyn has been sold. The property, with a lot size of approximately 7,315 SF, was sold for a price of $3,800,000. The site has a zoning classification of R7A and C2-4, providing potential for development. The buyer of the property is Alex Weiss, while the seller is Arkadiy Orkin.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,800,000
- Address: 1205-1209 Flatbush Ave., Flatbush, Brooklyn
- Market: Flatbush, Brooklyn
- Zoning: R7A, C2-4
The deal was facilitated by Stephen Vorvolakos and Andre Sigourney from Ariel Property Advisors.
Players
Brooklyn 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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93