Four Corners Development Group Acquires Retail Condo In Brooklyn For $3.31M
2317 Newkirk Ave, Brooklyn, NY 11226, USA
Building Size
15,600 SF
Asset Type
Condo
Closing
Apr 23, 2018
About this deal
AI
The retail condo located at 2317 Newkirk Avenue in Brooklyn, New York was recently sold for a total price of $3,310,000. Spanning across 15,600 square feet, the property was valued at $212 per square foot.
Summary of transaction details:
- Property Type: Retail Condo
- Transaction Amount: $3,310,000
- Size: 15,600 sq ft
- Price per Square Foot: $212
- Address: 2317 Newkirk Avenue, Brooklyn, New York
The seller of the retail condo was Selective Realty Management, represented by Steven Williams. On the other hand, the buyer of the property was Four Corners Development Group, represented by Jason Wisotsky. The transaction was facilitated by brokers Adam Sprung and Jason Goldy from Meridian Investment Sales.
On the Map
Condo
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Players
Brooklyn Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93