Joel Radmin Acquires Mixed-Use Property In Cobble Hill For $2.2M
SOLD
$2,200,000
New York
See Similar DealsMixed-use3,602 SF
Sold 04/09/2021
SOLD
Joel Radmin Acquires Mixed-Use Property In Cobble Hill For $2.2M
224 Court Street, Cobble Hill, Brooklyn, NY, USA
See Similar DealsMixed-use3,602 SF
Sold 04/09/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$610
Total Square Footage:3,602 SF
Transaction Type:Sale
A mixed-use property located at 224 Court Street in Cobble Hill was recently sold for $2,200,000. The property has a building square footage (BSF) of 3,839 and a price per BSF (PPBSF) of $573. The total area of the property is 3,602 square feet, with a price per square foot (PPSF) of $610. The transaction included three units.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,200,000
- Address: 224 Court Street
- Market: Cobble Hill
- Zoning: R6, C1-3
The buyer of the property is Joel Radmin. The deal was facilitated by Shaun Riney, Mike Salvatico, and Robbie Ferman, who represent New York Multifamily at Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,816.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,429.12
Annual Debt Service$125,149.47
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