Updated Dec 19, 2023
David Meyer Acquires Mixed-Use Property In Williamsburg For $3.1M
358 Broadway, Brooklyn, New York 11211, United States
$3,100,000
$1,226/SF
Building Size
2,528 SF
Asset Type
Commercial
Closing
Mar 24, 2022
About this deal
AI
The mixed-use property located at 358 Broadway in Williamsburg has been sold for a total price of $3,100,000. Spanning across 4,700 square feet, the property was purchased by David Meyer from the seller, Howard Berke. The transaction was facilitated by brokers Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, Corey Haynes, and Mitch Gordon from Bestreich Realty Group (BRG).
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $3,100,000
- Market: Williamsburg
- Buyer: David Meyer
- Seller: Howard Berke
- Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, Corey Haynes, and Mitch Gordon - Bestreich Realty Group (BRG)
The involvement of Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, Corey Haynes, and Mitch Gordon from Bestreich Realty Group (BRG) contributed to the successful completion of this transaction.
On the Map
$3,100,000
$1,226/SF
Commercial
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93