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
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