Investment Property Realty Group Brokers $4M Sale Of Retail And Office Units In Bed-Stuy
SOLD
$4,000,000
+ 3
New York
See Similar DealsIndustrial17,766 SF
Sold
SOLD
Investment Property Realty Group Brokers $4M Sale Of Retail And Office Units In Bed-Stuy
1197 Fulton Street
See Similar DealsIndustrial17,766 SF
Sold
+ 3
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$225
Total Square Footage:17,766 SF
Transaction Type:Sale
The property at 1197 Fulton Street in the Bed-Stuy area of Brooklyn consists of one retail unit and one office unit, encompassing a total of 17,766 square feet. The asset was sold for a price of $4,000,000, equating to a price per square foot of $225 and a price per unit of $2,000,000.
Summary of transaction details:
- Property Type: Commercial (1 Retail & 1 Office Unit)
- Transaction Amount: $4,000,000
- Square Footage: 17,766 SF
- Price Per Square Foot: $225
- Units: 2
- Price Per Unit: $2,000,000
Key individuals involved in this transaction include Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, Noah Middlekauff, and Joe Moravec, who are all representatives from Investment Property Realty Group (IPRG).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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