Updated Dec 19, 2023
Michael A Loscia Acquires Commercial Real Estate In Gravesend, Brooklyn For $9.175M
2 Avenue West, Brooklyn, New York 11223, United States
$9,175,000
$355/SF
Building Size
25,788 SF
Asset Type
Commercial
Closing
Sep 12, 2022
About this deal
AI
The commercial real estate property located at 2 Avenue W in Gravesend, Brooklyn, was sold on September 13, 2022. The property is zoned as R5 and C1-2, allowing for various commercial uses. The transaction involved a sale with a total price of $9,175,000.
Summary of transaction details
- Property Type: Commercial Real Estate
- Transaction Amount: $9,175,000
- Buyer: Micheal A Loscia
- Seller: Judy Meair
The property has a building square footage (BSF) of 42,415, resulting in a price per BSF of $216. The total square footage (SF) of the property is 25,788, with a price per SF of $355. The floor area ratio (FAR) is 0.76, indicating that the property has utilized 76% of the maximum allowable floor area. The tax class for the property is 4.
The lot size of the property is 33,932. It previously underwent an alteration permit on March 22, 2017. The lot dimensions are 260 ft x 149.58 ft.
Players
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Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.73%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93