David Meyer Acquires Mixed-Use Property In Williamsburg For $3.1M
SOLD
$3,100,000
+ 3
New York
See Similar DealsCommercial2,528 SF
Sold 03/25/2022
SOLD
David Meyer Acquires Mixed-Use Property In Williamsburg For $3.1M
358 Broadway, Brooklyn, New York 11211, United States
See Similar DealsCommercial2,528 SF
Sold 03/25/2022
+ 3
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$1,226
Total Square Footage:2,528 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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