Aaron Kahen's KP Developers Acquires Mixed-Use Property On Greenpoint Avenue For $3M
SOLD
New York
See Similar DealsMixed-use5,928 SF
Sold 09/08/2023
SOLD
Aaron Kahen's KP Developers Acquires Mixed-Use Property On Greenpoint Avenue For $3M
157 Greenpoint Ave Brooklyn, NY 11222, USA
See Similar DealsMixed-use5,928 SF
Sold 09/08/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$506
Total Square Footage:5,928 SF
Transaction Type:Sale
A mixed-use property located at 157 Greenpoint Avenue in Greenpoint, Brooklyn has been sold for $3,000,000. The property spans 5,928 square feet, resulting in a price per square foot of $506.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Date: 09/08/2023
- Address: 157 Greenpoint Avenue
- Market: Greenpoint, Brooklyn
- Buyer: Aaron Kahen - KP Developers
- Seller: Walter Besser
Aaron Kahen of KP Developers has purchased the property from Walter Besser. The transaction represents a significant investment in the greenpoint real estate market. For more information about leasing the retail portion of the property, interested parties can contact KP Developers at [email protected] or 718-740-4222.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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