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
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
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93