Phil Miller Acquires Mixed-Use Property In Greenpoint, Brooklyn For $3.1M
SOLD
$3,100,000
+ 1
New York
See Similar DealsMixed-use50,500 SF
Sold 12/10/2019
SOLD
Phil Miller Acquires Mixed-Use Property In Greenpoint, Brooklyn For $3.1M
17 Kent Ave, Brooklyn, NY 11249, USA
See Similar DealsMixed-use50,500 SF
Sold 12/10/2019
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$61
Total Square Footage:50,500 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$165,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98
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