SOLDMixed-use
Interborough Developmental & Consultation Center Acquires Mixed-use Property In Brooklyn For $18M
1623 Kings Highway, Brooklyn, NY 11229
$18,000,000
$900/SF
Building Size
20,000 SF
Asset Type
Mixed-use
Closing
Apr 1, 2019
AI
The mixed-use property located at 1623 Kings Hwy in Brooklyn has been sold for $18,000,000. The property spans 20,000 square feet, resulting in a price per square foot of $900.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $18,000,000
- Seller: Illan Goldstein
- Buyer: Interborough Developmental & Consultation Center
- Broker: Josh Augenbaum - Augenbaum Realty Corp.
- Market: Brooklyn
- Address: 1623 Kings Hwy
The deal was facilitated by broker Josh Augenbaum from Augenbaum Realty Corp.
Players
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93