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2317 Newkirk Ave, Brooklyn,...

Four Corners Development Group Acquires Retail Condo In Brooklyn For $3.31M
SOLDCondo

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

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.

Players

Adam Sprung

Meridian Capital Group

Broker

$46M

vol

3 deals

Broker

Jason Wisotsky

Four Corners Development Group

Buyer

$144.3M

vol

11 deals

Buyer

Steven Williams

Selective Realty Management

Seller

$21.5M

vol

4 deals

Seller

Brooklyn Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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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