Josh Gremler Acquires Mixed-Use Property In Williamsburg, Brooklyn For $2.35M
SOLD
$2,350,000
New York
See Similar DealsMixed-use3,500 SF
Sold 11/06/2023
SOLD
Josh Gremler Acquires Mixed-Use Property In Williamsburg, Brooklyn For $2.35M
20 Skillman Avenue
See Similar DealsMixed-use3,500 SF
Sold 11/06/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$671
Total Square Footage:3,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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