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Nicholas Lembo Acquires Commercial Property In Gowanus, Brooklyn For $5.7M

Property Image
SOLD
$5,700,000

New York

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Commercial3,972 SF
Sold 03/09/2022
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Property Image
SOLD

Nicholas Lembo Acquires Commercial Property In Gowanus, Brooklyn For $5.7M

142 2nd Street, Brooklyn, New York 11231, United States

See Similar Deals
Commercial3,972 SF
Sold 03/09/2022
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Summary

NEW YORK
Asset Type:Commercial
Price Per Square Foot:$1,435
Total Square Footage:3,972 SF
Transaction Type:Sale

The commercial property located at 142 2 Street in Gowanus, Brooklyn has been sold in a transaction dated March 9, 2022. The property is zoned as M2-1 and has a total building square footage (BSF) of 24,396. The price for the property was $5,700,000, resulting in a price per building square footage (PPBSF) of $233. The property itself has a total square footage (SF) of 3,972, with a price per square footage (PPSF) of $1,435.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $5,700,000
  • Buyer: Nicholas Lembo
  • Seller: Philip J. Scafuri
  • Market: Gowanus, Brooklyn
  • Zoning: M2-1

Nicholas Lembo acted as the buyer in this transaction, while Philip J. Scafuri served as the seller. The property has a floor area ratio (FAR) of 0.56 and a tax class of 4. Additionally, the lot size is 7,092 square feet, with dimensions of 70.92 ft x 100 ft.

Players

5 deals$217.6M volume
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Details

SOLD
IMAGE: 03/09/2022 ADDRESS: 142 2 Street MARKET: Gowanus, Brooklyn ASSET TYPE: Commercial ~ ZONING: M2-1 BUYER: Nicholas Lembo SELLER: Philip J. Scafuri PRICE: $5,700,000 BSF: 24,396 ~ PPBSF: $233 SF: 3,972 ~ PPSF: $1,435 FAR: 0.56 TAX CLASS: 4 LOT SIZE: 7,092 LOT DIMENSION: 70.92 ft x 100 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$304,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,250.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,020.91
Annual Debt Service$324,250.90