Ben Simmons Acquires $13M Condo In Brooklyn
SOLD
$13,000,000
New York
See Similar DealsCondo5 SF
Sold 09/23/2022
SOLD
Ben Simmons Acquires $13M Condo In Brooklyn
Brooklyn, New York, United States
See Similar DealsCondo5 SF
Sold 09/23/2022
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$2,600,000
Total Square Footage:5 SF
Transaction Type:Sale
Ben Simmons, the three-time NBA All-Star, is in contract to purchase a sprawling residence in affluent Dumbo, Brooklyn. The asking price for this condo is around $13 million. The property offers 5,000 square feet of space, resulting in a price per square foot of $2,600.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $13,000,000
- Market: Brooklyn
Ben Simmons, representing himself and the Brooklyn Nets, will become the new owner of this luxurious condo. The purchase of this high-end property showcases Simmons' investment in the Brooklyn real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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