Lenny Vayner Acquires Mixed Use Property In Sheepshead Bay/BK For $7.5M
1101 Avenue U, Brooklyn, NY 11223, USA
$7,500,000
$493/SF
Building Size
15,190 SF
Asset Type
Mixed-use
Closing
Jul 30, 2019
About this deal
AI
1101 Avenue U, located in Sheepshead Bay/BK, was recently sold in a closed transaction. The mixed-use property spans a total space of 15,190 square feet, with a price of $7,500,000. This amounts to a price per square foot of $493.75.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $7,500,000
- Address: 1101 Avenue U, Sheepshead Bay/BK
- Market: Sheepshead Bay/BK
- Buyer: Lenny Vayner
- Seller: Arnold Skopp
- Brokers: Scott Plasky, Mike Cimino, Gregory Melanson
- Square Footage: 15,190
- Price per Square Foot: $493.75
The transaction involved a team of brokers, including Scott Plasky, Mike Cimino, and Gregory Melanson. They represented Lenny Vayner, the buyer, and Arnold Skopp, the seller, in this deal.
Players
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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93