Rockrose Development Acquires Mixed-Use Property In Brooklyn Heights For $3M
193 Joralemon Street
$3,000,000
$659/SF
Building Size
4,550 SF
Asset Type
Mixed-use
Closing
May 29, 2024
AI
The mixed-use property located at 193 Joralemon Street in Brooklyn Heights was sold for $3,000,000. Spanning 4,550 square feet, the property was acquired by Rockrose Development from Joseph P Day Realty. The sale price per square foot was $659.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Address: 193 Joralemon Street
- Market: Brooklyn Heights
- SF: 4,550
- Buyer: Rockrose Development
- Seller: Joseph P Day Realty
- Brokers: Daniel O'Brien, Caroline Hodes & Robbie Ferman - Newmark
- Price per Square Foot: $659
The transaction was facilitated by the brokers Daniel O'Brien, Caroline Hodes, and Robbie Ferman from Newmark. Their expertise and negotiation skills played a crucial role in the successful sale of the property on 05/29/2024.
Players
Brooklyn 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93