Yossi Hackner Acquires Mixed-Use Building In Crown Heights For $1M
103 Kingston Ave Brooklyn, NY 11213, USA
$1,000,000
$133/SF
Building Size
7,500 SF
Asset Type
Mixed-use
Closing
Mar 30, 2023
About this deal
AI
Located in Crown Heights, the mixed-use property at 103 Kingston Avenue was recently sold for $1,000,000. Spanning across 7,500 square feet, this corner building is fully rent-stabilized and was previously owned by Kempton Shepherd. The successful transaction was facilitated by DJ Johnston from B6 Real Estate Advisors. The sale price per square foot amounted to $133.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $1,000,000
- Address: 103 Kingston Avenue
- Market: Crown Heights
Representing the buyer in this transaction was Yossi Hackner. DJ Johnston, from B6 Real Estate Advisors, served as the broker for the deal. The sale of this bank-owned property presented unique challenges, including over 300 violations, and its participation in the AEP and CONH programs. Anyone interested in acquiring or brokering similar buildings in NYC can benefit from the lessons learned in this transaction. For inquiries or if you own a similar property, you can reach out to DJ Johnston at 914-584-7422 or [email protected].
On the Map
$1,000,000
$133/SF
Mixed-use
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New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93