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144 Nassau Avenue

Updated Dec 4, 2024

Jacob Namdar Acquires Mixed-Use Property On Nassau Avenue In Greenpoint For $2.2M
SOLDMixed-use

Jacob Namdar Acquires Mixed-Use Property On Nassau Avenue In Greenpoint For $2.2M

144 Nassau Avenue

$2,200,000

$601/SF

Building Size

3,657 SF

Asset Type

Mixed-use

Closing

May 17, 2024

About this deal

AI

Located at 144 Nassau Avenue in Greenpoint, Brooklyn, the mixed-use property was sold for $2,200,000. Spanning 3,657 square feet, the asset was purchased by Jacob Namdar from seller Frank Petrucha. The transaction was facilitated by Lisa Sulfaro from The Corcoran Group.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Market: Greenpoint, Brooklyn
  • Square Footage: 3,657
  • Buyer: Jacob Namdar
  • Seller: Frank Petrucha
  • Broker: Lisa Sulfaro - The Corcoran Group

Jacob Namdar, the buyer of the property at 144 Nassau Avenue, recently expressed interest in acquiring various asset types, including mixed-use buildings, 1-5 families, retail condos, co-ops, taxpayers, free-market multifamily properties, office buildings, and residential conversions in Manhattan, Brooklyn, Queens, and Long Island. His investment group, NH Property Group, is open to properties with below-market rents and is willing to consider assets up to $100 million. For inquiries, Namdar can be contacted directly via email at [email protected] or phone at 516.455.4065.

Players

Lisa Sulfaro

The Corcoran Group

Broker

$11.4M

vol

3 deals

Broker

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $601 per square foot on a published $2.2M for 3,657 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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