Mark Twaiti Acquires Mixed-Use Property In Gravesend For $2.7M
370 Avenue P.
Building Size
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Asset Type
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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
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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