John Palumbo Acquires Mixed-Use Property In Gravesend, Brooklyn From Judy Meair For $9.18M
2 Avenue W, Brooklyn, New York 11229, United States
$9,175,000
$354/SF
Building Size
25,920 SF
Asset Type
Mixed-use
Closing
Sep 12, 2022
AI
The mixed-use property located at 2 Avenue W. in Gravesend, Brooklyn has been sold. The transaction took place on September 13, 2022, with a sale price of $9,175,000. The property spans 25,920 square feet, resulting in a price per square foot of $353. The buyer in this transaction was John Palumbo, while the seller was Judy Meair.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $9,175,000
- Address: 2 Avenue W., Gravesend, Brooklyn
- Buyer: John Palumbo
- Seller: Judy Meair
- Square Footage: 25,920
- Price Per Square Foot: $353
John Palumbo, the buyer in this transaction, made a significant investment in this mixed-use property in Gravesend, Brooklyn. Judy Meair, the seller, successfully closed the deal, resulting in a sale price of $9,175,000. The property offers ample space with a total square footage of 25,920, making it an attractive asset for the buyer's portfolio.
Players
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
1.73%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93