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358 Broadway, Brooklyn, New...

David Meyer Acquires Mixed-Use Property In Williamsburg For $3.1M
SOLDCommercial

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

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.

Players

Corey Haynes

Investment Property Realty Group (IPRG)

Broker

$228M

vol

62 deals

Broker

Howard Berke

Seller

$8.7M

vol

3 deals

Seller

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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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