Ariel Property Advisors Broker Retail Condo Sale In Brooklyn Heights For $2.85M
70 Schermerhorn Street, Retail Condo
$2,850,000
$975/SF
Building Size
2,921 SF
Asset Type
Retail
Closing
Sep 29, 2022
AI
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.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93