Four Corners Development Group Acquires Retail Condo In Brooklyn For $3.31M
2317 Newkirk Ave, Brooklyn, NY 11226, USA & 2317 Newkirk Ave, Brooklyn, NY 11226, USA
Building Size
171,600 SF
Asset Type
—
Closing
Apr 22, 2018
AI
A retail condo located at 2317 Newkirk Avenue in Brooklyn, New York, was recently sold for a price of $3,310,000. The property spans approximately 15,600 square feet and was sold at a rate of $212 per square foot.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $3,310,000
- Square Footage: 15,600 sf
- Price per Square Foot: $212
The seller of the retail condo was Selective Realty Management, represented by Steven Williams. The buyer, Four Corners Development Group, was represented by Jason Wisotsky. The deal was facilitated by Adam Sprung and Jason Goldy of Meridian Investment Sales.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93