Mendel Gold Acquires Mixed-Use Property In Williamsburg, Brooklyn For $3M
229 Kent Avenue, Brooklyn, NY 11249
$3,000,000
$1,034/SF
Building Size
2,900 SF
Asset Type
Mixed-use
Closing
May 12, 2020
About this deal
AI
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
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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93