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20 Skillman Avenue

Josh Gremler Acquires Mixed-Use Property In Williamsburg, Brooklyn For $2.35M
SOLDMixed-use

Josh Gremler Acquires Mixed-Use Property In Williamsburg, Brooklyn For $2.35M

20 Skillman Avenue

$2,350,000

$671/SF

Building Size

3,500 SF

Asset Type

Mixed-use

Closing

Nov 6, 2023

AI

The mixed-use property located at 20 Skillman Avenue in Williamsburg, Brooklyn has been sold in a recent transaction. The property spans 3,500 square feet and was sold for a total price of $2,350,000, resulting in a price per square foot of $671. The sale of this property marks a significant transaction in the Williamsburg market.

Summary of Transaction Details

  • Property Type: Mixed-use
  • Transaction Amount: $2,350,000
  • Address: 20 Skillman Avenue
  • Market: Williamsburg, Brooklyn
  • Square Footage: 3,500

The buyer of the property is Josh Gremler, and the transaction was facilitated by brokers Shaun Riney, Michael Salvatico, and Samuel Leppo from Marcus & Millichap. Their expertise in the market was instrumental in bringing this deal to fruition.

Players

Michael Salvatico

Marcus & Millichap

Broker

$787M

vol

173 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

Brooklyn 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

6.75%

Cash-on-Cash

-1.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93