Richard Lee Acquires Mixed-Use Property In Park Slope For $2.75M
SOLD
$2,750,000
New York
See Similar DealsMixed-use4,180 SF
Sold 06/19/2019
SOLD
Richard Lee Acquires Mixed-Use Property In Park Slope For $2.75M
199 5th Ave, Brooklyn, NY 11217, USA
See Similar DealsMixed-use4,180 SF
Sold 06/19/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$657
Total Square Footage:4,180 SF
Transaction Type:Sale
A mixed-use property located at 199 5th Avenue in Brooklyn's Park Slope neighborhood has been sold in a closed transaction. The property spans 4,180 square feet and consists of both residential and commercial spaces. It was listed with an asking price of $2,900,000, and was ultimately sold for $2,750,000, resulting in a price per square foot of $657.
Summary of transaction details:
- Property Type: Mixed-use
- Asking Price: $2,900,000
- Sale Price: $2,750,000
- Square Footage: 4,180
- Price per Square Foot: $657
The seller of the property was Lucia Palumbo, and the buyer was Richard Lee. The transaction was facilitated by brokers from BRG_CRE, including Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$146,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
Annual Debt Service$156,436.84
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