Regal Acquisitions And The Jackson Group Acquire Retail Condo And Garage On Kent Avenue In Williamsburg For $11.7M
184 Kent Avenue, Williamsburg, Brooklyn, NY, USA
$11,700,000
$164/SF
Building Size
71,000 SF
Asset Type
Mixed-use
Closing
Apr 21, 2021
About this deal
AI
A retail condo and garage located at 184 Kent Avenue in Williamsburg, Brooklyn has been sold for $11,700,000. The property consists of 16,000 square feet of retail space and a 55,000 square foot garage.
Summary of transaction details
- Property Type: Retail Condo & Garage
- Transaction Amount: $11,700,000
- Address: 184 Kent Avenue
- Market: Williamsburg, Brooklyn
The buyer of the property is Regal Acquisitions, represented by Alex Smith, and The Jackson Group, represented by Elliot Chehebar. On the other hand, the seller is Rockpoint Group, represented by Keith Gelb, and The Kushner Companies, represented by Laurent Morali.
The deal was facilitated by Matthew Marshall from Marshall Real Estate LLC.
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
1.36%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93