Marcus & Millichap Brokers Facilitate $4.3M Sale Of Mixed-Use Asset In Williamsburg
229 Kent Avenue
$4,300,000
$1,482/SF
Building Size
2,900 SF
Asset Type
Mixed-use
Closing
Mar 7, 2024
AI
The property at 229 Kent Avenue in Williamsburg, Brooklyn, was recently sold as a mixed-use asset for $4,300,000. Spanning 2,900 square feet, the property commanded a price per square foot of $1,483. The deal was facilitated by brokers Shaun Riney, Michael Salvatico, and Samuel Leppo from Marcus & Millichap.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,300,000
- Address: 229 Kent Avenue
- Market: Williamsburg, Brooklyn
- Square Footage: 2,900
- Brokers: Shaun Riney, Michael Salvatico & Samuel Leppo - Marcus & Millichap
The collaboration of Shaun Riney, Michael Salvatico, and Samuel Leppo from Marcus & Millichap was instrumental in closing the deal for the mixed-use property at 229 Kent Avenue. Their expertise and market knowledge played a crucial role in the successful transaction.
Players
Brooklyn 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
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93