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Mendel Gold Acquires Mixed-Use Property In Williamsburg, Brooklyn For $3M

Property Image
SOLD
$3,000,000
Peter Von Der Ahe
Shaun Riney
+ 1

New York

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Mixed-use2,900 SF
Sold 05/13/2020
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Property Image
SOLD

Mendel Gold Acquires Mixed-Use Property In Williamsburg, Brooklyn For $3M

229 Kent Avenue, Brooklyn, NY 11249

See Similar Deals
Mixed-use2,900 SF
Sold 05/13/2020
Peter Von Der Ahe
Shaun Riney
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,034
Total Square Footage:2,900 SF
Transaction Type:Sale

The property involved in this transaction is a mixed-use building located at 229 Kent Avenue in Williamsburg, Brooklyn. The sale took place on 05/13/2020.

Summary of transaction details

  • Property Type: Mixed-use
  • Sale Price: $3,000,000
  • Square Footage: 2,900
  • Price per Square Foot: $1,034
  • Units: 1 Retail, 2 Residential
  • Price per Unit: $1,000,000
  • Seller: Sam Tuffnell
  • Buyer: Mendel Gold
  • Brokers: Peter Von Der Ahe, Shaun Riney, Mike Salvatico - Marcus & Millichap

The property consists of 1 retail unit and 2 residential units. The sale price for this property was $3,000,000, with a total square footage of 2,900. The price per square foot was $1,034. The units were sold for an average price of $1,000,000 per unit. The seller of the property was Sam Tuffnell, and the buyer was Mendel Gold. The brokers involved in the transaction were Peter Von Der Ahe, Shaun Riney, and Mike Salvatico from Marcus & Millichap.

Players

Michael (Mike) Salvatico
173 deals$787M volume(718) 475-4358
BROKER

Peter Von Der Ahe
Marcus & Millichap
110 deals$1.4B volume
BROKER

Shaun Riney
Marcus & Millichap
355 deals$1.8B volume(718) 475-4369
BROKER

Details

SOLD
IMAGE: Peter Von Der Ahe, Shaun Riney, Mike Salvatico DATE: 05/13/2020 ADDRESS: 229 Kent Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Mixed-use SALE PRICE: $3,000,000 SF: 2,900 ~ PPSF: $1,034 UNITS: 1 Retail, 2 Residential ~ PPU: $1,000,000 SELLER: Sam Tuffnell BUYER: Mendel Gold BROKERS: Peter Von Der Ahe, Shaun Riney, Mike Salvatico @NewYorkMultifamily - Marcus & Millichap

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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