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370 Avenue P.

Updated Dec 21, 2023

Mark Twaiti Acquires Mixed-Use Property In Gravesend For $2.7M
SOLD

Mark Twaiti Acquires Mixed-Use Property In Gravesend For $2.7M

370 Avenue P.

Building Size

Asset Type

Closing

Aug 24, 2022

About this deal

AI

The mixed-use property located at 370 Avenue P in Gravesend has been sold for a price of $2,700,000. The property spans 8,325 square feet, resulting in a price per square foot of $324. The transaction took place on August 24, 2022.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,700,000
  • Address: 370 Avenue P
  • Market: Gravesend
  • Buyer: Mark Twaiti
  • Seller: Phil Knoll
  • Broker: Avraham Birnbaum - Twelve Stones Realty
  • Square Footage: 8,325
  • Price per Square Foot: $324

The buyer in this transaction was Mark Twaiti, while the seller was Phil Knoll. Avraham Birnbaum from Twelve Stones Realty served as the broker representing the parties involved in the deal. Special thanks were extended to Alex Jaffa and Alex Freund of Eastern Union for providing the financing.

Players

Mark Twaiti

Buyer

$2.7M

vol

2 deals

Buyer

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

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