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1616 Kings Highway, Brookly...

David Sutton Acquires Mixed-Use Asset In Madison, Brooklyn For $2.2M
SOLDMixed-use

David Sutton Acquires Mixed-Use Asset In Madison, Brooklyn For $2.2M

1616 Kings Highway, Brooklyn, New York 11229, United States

$2,200,000

$785/SF

Building Size

2,800 SF

Asset Type

Mixed-use

Closing

Aug 31, 2022

AI

Located at 1616 Kings Hwy in Madison, Brooklyn, this mixed-use property has been sold in a recent transaction. The property spans 2,800 square feet and was sold for a total price of $2,200,000, resulting in a price per square foot of $785.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Date: 09/01/2022
  • Address: 1616 Kings Hwy
  • Market: Madison, Brooklyn

David Sutton has acquired the property from Harold Grabino. The transaction was facilitated by brokers William P. O'Brien, Davon Peters, and Thomas Tyne, who represent M. C. O'Brien Inc.

Players

William O'Brien

Broker

$17.1M

vol

8 deals

Broker
M. C. O'Brien
M. C. O'BrienBrokerage

David Sutton

Buyer

$4.4M

vol

2 deals

Buyer

Harold Grabino

Seller

$4.4M

vol

2 deals

Seller

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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93