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70 Schermerhorn Street

Jamie Anthony & Andrew Bradfield Sell Brooklyn Heights Retail Condo For $2.85M
SOLDCondo

Jamie Anthony & Andrew Bradfield Sell Brooklyn Heights Retail Condo For $2.85M

70 Schermerhorn Street

$2,850,000

$975/SF

Building Size

2,921 SF

Asset Type

Condo

Closing

Sep 29, 2022

AI

Located at 70 Schermerhorn Street in Brooklyn Heights, this sale involved a retail condo spanning 2,921 square feet. The transaction took place on 09/29/2022, with a selling price of $2,850,000, translating to a price per square foot of $975.

Summary of transaction details:

The key individuals involved in this transaction include Sean R. Kelly Esq., Stephen Vorvolakos, Lawrence Sarn from Ariel Property Advisors, and Lucas Smith along with Sarah Jones from Oxford Property Group. They played crucial roles in facilitating the sale of this retail condo.

Players

Sean R. Kelly, Esq.

Ariel Property Advisors

Broker

$529.8M

vol

56 deals

Broker

Andrew Bradfield

Seller

$5.7M

vol

2 deals

Seller

New York 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

5.57%

Cash-on-Cash

-1.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93