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219 Irving Ave, Brooklyn, N...

Israel Goldstein Acquires Mixed-Use Property On Irving Avenue For $2.18M
SOLDMixed-use

Israel Goldstein Acquires Mixed-Use Property On Irving Avenue For $2.18M

219 Irving Ave, Brooklyn, NY 11237, USA

$2,180,000

$40/SF

Building Size

54,000 SF

Asset Type

Mixed-use

Closing

Jan 6, 2020

AI

Located at 219 Irving Avenue in Bushwick, the mixed-use property was sold for a price of $2,180,000. Spanning a total area of 5,400 square feet, the property offers a variety of uses including 1 retail unit, 5 residential units, and 4 garages. The sale price per square foot was $501, and the transaction included a purchase price unit of $218,000.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,180,000
  • Address: 219 Irving Avenue
  • Market: Bushwick
  • Square Footage: 5,400
  • Price Per Square Foot: $501
  • Units: 1 Retail; 5 Residential; 4 Garages
  • Purchase Price Unit: $218,000

The sellers of the property were Gil Nye and Jay Yoo, while the buyer was Israel Goldstein. The transaction was facilitated by brokers from @TerraCRG, specifically Matt Cosentino, Fred Bijou, and Eddie Laboz.

Players

Eddie Laboz

Terra CRG

Broker

$16.8M

vol

7 deals

Broker

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

7.28%

Cash-on-Cash

-2.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93