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2444 86th St, Brooklyn, NY ...

George Hall Acquires Mixed Use Property In Brooklyn For $8.15M
SOLDMixed-use

George Hall Acquires Mixed Use Property In Brooklyn For $8.15M

2444 86th St, Brooklyn, NY 11214, USA

Building Size

162,590 SF

Asset Type

Mixed-use

Closing

Jun 27, 2018

AI

A mixed-use property located at 2444 86 St in Brooklyn, New York has been sold in a closed transaction. The property spans 16,259 square feet and was purchased for a price of $8,150,000, resulting in a price per square foot of $500. The property consists of three units.

Summary of transaction details

  • Property Type: Mixed Use
  • Transaction Amount: $8,150,000
  • Address: 2444 86 St, Brooklyn, New York
  • Market: Brooklyn
  • Square Footage: 16,259 sf
  • Price per Square Foot: $500
  • Units: 3

The property was sold by Alexander Kostovetsky and Leonord Rakhlis, and the buyer is George Hall. The transaction was facilitated by Carlos Tse and Bill Fan, who represented the parties involved in the deal.

Players

Bill Fan

Re/Max

Broker

1 deal

Broker

Alexander Kostovetsk

Seller

$29M

vol

6 deals

Seller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93