Updated Dec 18, 2023
The Pietrzak Family Acquires One Story Commercial Property In Williamsburg For $1M
871 Metropolitan Avenue, Brooklyn, New York 11211, United States
$1,000,000
$985/SF
Building Size
1,015 SF
Asset Type
Commercial
Closing
Jul 6, 2022
About this deal
AI
The one-story commercial property located at 871 Metropolitan Ave. in Williamsburg has been sold for $1,000,000. The property is approximately 1,015 square feet in size and was sold in As-Is condition. The sale price per square foot was $985.
Summary of transaction details
- Property Type: One Story Commercial
- Transaction Amount: $1,000,000
- Date: 07/07/2022
- Address: 871 Metropolitan Ave.
- Market: Williamsburg
The buyer of the property is The Pietrzak Family, while the seller is The Selman Family. The brokers involved in the deal were Shaun Riney, Mike Salvatico, and Sam Leppo from Marcus & Millichap.
Players
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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93