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17 Kent Ave, Brooklyn, NY 1...

Phil Miller Acquires Mixed-Use Property In Greenpoint, Brooklyn For $3.1M
SOLDMixed-use

Phil Miller Acquires Mixed-Use Property In Greenpoint, Brooklyn For $3.1M

17 Kent Ave, Brooklyn, NY 11249, USA

$3,100,000

$61/SF

Building Size

50,500 SF

Asset Type

Mixed-use

Closing

Dec 9, 2019

AI

Located at 17 Kent Avenue in Greenpoint, Brooklyn, this mixed-use property was recently sold in a closed transaction for a price of $3,100,000. Spanning across 5,050 square feet, the property boasts a price per square foot of $613. The transaction involved the seller, Nancy Civitello, and the buyer, Phil Miller.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $3,100,000
  • Address: 17 Kent Avenue, Greenpoint, Brooklyn
  • Market: Greenpoint, Brooklyn
  • Square Footage: 5,050
  • Price per Square Foot: $613

The deal was facilitated by brokers Shaun Riney, Mike Salvatico, and John Barney from Marcus & Millichap. Representing their respective clients, they played a crucial role in ensuring a successful transaction for both the buyer and the seller.

Players

John Barney

Weber Frank Real Estate

Broker

$109.5M

vol

21 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

Phil Miller

Buyer

$13M

vol

5 deals

Buyer

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93