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David Kramer Acquires Mixed-Use Development In Brooklyn's Ocean Hill For $31.2M
SOLD
New York
See Similar DealsMixed-use
Sold 08/02/2023
SOLD
David Kramer Acquires Mixed-Use Development In Brooklyn's Ocean Hill For $31.2M
1884 Broadway Brooklyn, Ny 11207, Usa
See Similar DealsMixed-use
Sold 08/02/2023
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
A mixed-use development consisting of 66 apartments and retail spaces located at 1884 Broadway in Brooklyn's Ocean Hill neighborhood has been sold for $31.2 million.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $31,200,000
- Address: 1884 Broadway
- Market: Brooklyn
David Kramer has purchased the property from Joel Schwartz.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,663,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,847.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$147,903.92
Annual Debt Service$1,774,847.01
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