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Rockrose Development Acquires Mixed-Use Property In Brooklyn Heights For $3M

Property Image
SOLD
$3,000,000
Robert (Robbie) Ferman
Daniel (Dan) O'Brien
Caroline Hodes

New York

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Mixed-use4,550 SF
Sold 05/29/2024
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Property Image
SOLD

Rockrose Development Acquires Mixed-Use Property In Brooklyn Heights For $3M

193 Joralemon Street

See Similar Deals
Mixed-use4,550 SF
Sold 05/29/2024
Robert (Robbie) Ferman
Daniel (Dan) O'Brien
Caroline Hodes
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$659
Total Square Footage:4,550 SF
Transaction Type:Sale

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

Caroline Hodes
Newmark
Caroline Hodes
94 deals$1.8B volume(516) 263-9404
BROKER
Robert (Robbie) Ferman
Newmark
Robert Ferman
28 deals$299.6M volume(212) 655-0695
BROKER
Daniel (Dan) O'Brien
Newmark
Daniel O'Brien
146 deals$4.7B volume(212) 698-5584
BROKER

Details

SOLD
IMAGE: Robbie Ferman, Daniel O'Brien & Caroline Hodes DATE: 05/29/2024 ADDRESS: 193 Joralemon Street MARKET: Brooklyn Heights ASSET TYPE: Mixed-use BUYER: Rockrose Development SELLER: Joseph P Day Realty BROKERS: Daniel O'Brien, Caroline Hodes (@CarolineHodes) & Robbie Ferman (@Robbie_Ferman_RE) - Newmark (@Newmark) SALE PRICE: $3,000,000 SF: 4,550 ~ PPSF: $659

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37