SOLDHotel
Northgate Real Estate Group Brokers Represent Sale Of $15M Hotel On Atlantic Ave In Bedford-Stuyvesant, Brooklyn
1325 Atlantic Avenue
$15,000,000
$272/SF
Building Size
55,000 SF
Asset Type
Hotel
Closing
Sep 6, 2023
About this deal
AI
A hotel located at 1325 Atlantic Avenue in Bedford-Stuyvesant, Brooklyn has been sold for $15,000,000. The property spans an area of approximately 55,000 square feet, resulting in a price per square foot of $273.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,000,000
- Address: 1325 Atlantic Avenue
- Market: Bedford-Stuyvesant, Brooklyn
- BROKERS: Greg Corbin & Felix Ades - Northgate Real Estate Group
- SF: 55,000
- PPSF: $273
The deal was facilitated by Greg Corbin and Felix Ades of Northgate Real Estate Group.
Players
Brooklyn Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93