Abe Garbo And Sara Rottenberg Acquire Church In Brooklyn From Metropolitan New York Synod For $4.7M
129 Russell Street
$4,700,000
$870/SF
Building Size
5,400 SF
Asset Type
Church
Closing
Aug 15, 2024
AI
The asset involved in this transaction is a church located at 129 Russell Street in Brooklyn, with a sale price of $4,700,000. The property encompasses a total area of 5,400 square feet, resulting in a price per square foot of $870.
Summary of transation details:
- Property Type: Church
- Transaction Amount: $4,700,000
- Square Footage: 5,400
- Price per Square Foot: $870
- Buyer: Abe Garbo & Sara Rottenberg
- Seller: Metropolitan New York Synod (MNYS)
- Broker: Meylin Maldonado - Compass
- Transaction Date: 08/15/2024
The sale was facilitated by Meylin Maldonado, who is the CEO of the Hillin Advisory Team at Compass. This transaction marks the fifth property sold by Meylin Maldonado in a multi-borough, mixed-use portfolio, representing both the seller and the purchasers throughout the deal.
Players
Brooklyn Church Market Snapshot
Boundary boundary · Church · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93