Alex Weiss Acquires Development Site In Flatbush, Brooklyn For $3.8M
SOLD
$3,800,000
Texas
See Similar DealsDevelopment Site47,550 SF
Sold 09/15/2020
SOLD
Alex Weiss Acquires Development Site In Flatbush, Brooklyn For $3.8M
1205 Flatbush Ave #1209, Brooklyn, Ny 11226, Usa
See Similar DealsDevelopment Site47,550 SF
Sold 09/15/2020
Summary
TEXAS
Asset Type:Development Site
Price Per Square Foot:$79
Total Square Footage:47,550 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$202,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26
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