Ariel Property Advisors Broker Retail Condo Sale In Brooklyn Heights For $2.85M
SOLD
$2,850,000
National
See Similar DealsRetail2,921 SF
Sold 09/29/2022
SOLD
Ariel Property Advisors Broker Retail Condo Sale In Brooklyn Heights For $2.85M
70 Schermerhorn Street, Retail Condo
See Similar DealsRetail2,921 SF
Sold 09/29/2022
Summary
Asset Type:Retail
Price Per Square Foot:$975
Total Square Footage:2,921 SF
Transaction Type:Sale
Located in Brooklyn Heights, the retail condo at 70 Schermerhorn Street was recently sold for $2,850,000. Spanning 2,921 square feet, the property was acquired at a price per square foot of $975.
Summary of transaction details:
- Property Type: Retail Condo
- Transaction Amount: $2,850,000
- Address: 70 Schermerhorn Street
- Market: Brooklyn Heights
- Seller: Andrew Bradfield & Jamie Anthony
- Brokers:
- Sean R. Kelly Esq., Stephen Vorvolakos & Lawrence Sarn - Ariel Property Advisors
- Lucas Smith & Sarah Jones - Oxford Property Group
The deal was facilitated by brokers Sean R. Kelly Esq., Stephen Vorvolakos, Lawrence Sarn from Ariel Property Advisors, and Lucas Smith, Sarah Jones from Oxford Property Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$151,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45
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