DAX Real Estate Acquires Mixed-use Property At 149 Franklin Street In Greenpoint, Brooklyn For $4.85M
149 Franklin Street
$4,850,000
$695/SF
Building Size
6,970 SF
Asset Type
Mixed-use
Closing
Jan 27, 2021
About this deal
AI
A mixed-use property located at 149 Franklin Street in Greenpoint, Brooklyn has been sold. The property consists of 7 units with a total square footage of 6,970. The sale price for the property was $4,850,000, resulting in a price per unit of $692,857 and a price per square foot of $696.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,850,000
- Units: 7
- Price Per Unit: $692,857
- Square Footage: 6,970
- Price Per Square Foot: $696
The buyers of the property were DAX Real Estate, represented by Daniel Hedaya and Maxwell Seibald. The sellers of the property were the Stasiuk Family. The deal was facilitated by brokers Shaun Riney and Mike Salvatico from NewYorkMultifamily at MarcusMillichap_NY.
According to the broker's note, the property was 100% free market with retail space that was delivered vacant. The building was developed in the mid-2000s and is in very good condition. For similar inventory in North Brooklyn, interested parties can reach out directly to the broker's team.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael (Mike) Salvatico to view all their deals.
Browse Brooklyn mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93