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229 Kent Avenue

Marcus & Millichap Brokers Facilitate $4.3M Sale Of Mixed-Use Asset In Williamsburg
SOLDMixed-use

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:

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

Michael Salvatico

Marcus & Millichap

Broker

$787M

vol

173 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

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