Algin Management Acquires Property From Thor Equities For $73 Million In Brooklyn
SOLD
$73,000,000
New York
See Similar DealsCommercial
Sold 10/01/2019
SOLD
Algin Management Acquires Property From Thor Equities For $73 Million In Brooklyn
1752 Shore Pkwy, Brooklyn, NY, 11214
See Similar DealsCommercial
Sold 10/01/2019
Summary
NEW YORK
Asset Type:Commercial
Transaction Type:Sale
The property involved in this transaction is located at 1752 Shore Pkwy, Brooklyn, NY, 11214. The sale price for the property was $73,000,000.00. The asset comprises 0 square feet and falls within the Brooklyn market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $73,000,000.00
- Address: 1752 Shore Pkwy, Brooklyn, NY, 11214
- Market: Brooklyn
- Seller: Thor Equities
- Buyer: Algin Management
- Seller's Representative: David Zambratto - Newmark Knight Frank
The transaction highlights the involvement of Algin Management as the buyer and Thor Equities as the seller. David Zambratto from Newmark Knight Frank represented the seller in this closing transaction.
Players
BROKERAGE
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,893,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$259,353.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$346,057.24
Annual Debt Service$4,152,686.91
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