New York Multifamily Brokers Sell Mixed-Use Property In Greenpoint For $6.25M
144 Greenpoint Avenue, Brooklyn, NY, USA
$6,250,000
$578/SF
Building Size
10,813 SF
Asset Type
Mixed-use
Closing
Jul 8, 2020
About this deal
AI
144 Greenpoint Avenue in Prime Greenpoint, Brooklyn has been sold in a recent transaction. This mixed-use asset, which includes a 2-story unimproved vacant landmarked commercial building, attracted significant interest during the marketing process. The property was ultimately sold for $6,250,000 on an as-is, non-contingent basis. The transaction had a total square footage of 10,813, resulting in a price per square foot of $578.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $6,250,000
- Address: 144 Greenpoint Ave.
- Market: Greenpoint, Brooklyn
The sale of 144 Greenpoint Avenue was facilitated by the brokerage team consisting of Shaun Riney, Michael Salvatico, Sam Leppo, and Alex Kalb from NewYorkMultifamily and MarcusMillichap_NY. Noteworthy individuals involved in the transaction include attorneys Ryan Miller of Kishner, Miller, Hines P.C and buyers counsel Doran Golubtchik of Goldberg Weprin Finkel Goldstein LLP, as well as lender Bert R. Dweck of Hirshmark Capital. Their expertise and professionalism ensured a smooth and timely completion of the deal, which closed within a 45-day TOE period.
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
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93