Acquires Mixed-Use Properties In Gowanus For $13 Million
250 4th Avenue, 252 4th Avenue, 254 4th Avenue & Adjacent Air Rights
$13,000,000
$950/SF
Building Size
13,680 SF
Asset Type
Development Site
Closing
Jul 13, 2026
AI
The property involved in this transaction is a mixed-use asset located at 250 4th Avenue, 252 4th Avenue, and 254 4th Avenue in the Gowanus market. The sale price for the property was $13,000,000, and it encompasses a total square footage of 13,680, resulting in a price per square foot of $950.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $13,000,000
- Square Footage: 13,680
- Price per Square Foot: $950
- Buyer:
- Broker Representatives: Adam J Hess & Edward Setton - Sterling Property Group NY
- Date of Sale: 07/13/2026
- Address: 250 4th Avenue, 252 4th Avenue & 254 4th Avenue
- Market: Gowanus
The deal involved the buyer, , along with the broker representatives Adam J Hess and Edward Setton, who represent Sterling Property Group NY in this transaction. This collaboration highlights the efforts of these individuals in facilitating the sale of the mixed-use property.
Players
Carrollton 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93