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
About this deal
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.
On the Map
$2,200,000
$785/SF
Mixed-use
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Players
Brooklyn 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