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258 Wythe Avenue, Brooklyn,...

Shiraz Sanjana Acquires Mixed-Use Property On Wythe Ave In Williamsburg For $5.8M
SOLDMixed-use

Shiraz Sanjana Acquires Mixed-Use Property On Wythe Ave In Williamsburg For $5.8M

258 Wythe Avenue, Brooklyn, New York 11249, United States

$5,800,000

$828/SF

Building Size

7,000 SF

Asset Type

Mixed-use

Closing

Mar 24, 2022

AI

Located in Williamsburg, the mixed-use property at 258 Wythe Ave. has recently been sold in a closed transaction. The sale took place on 03/25/2022, and the buyer of the property is Shiraz Sanjana. The seller of the property is David Lehmann. The property, spanning 7,000 square feet, was sold for a total price of $5,800,000, resulting in an average price per square foot of $828. The property is situated in a vibrant market, attracting potential buyers due to its prime location.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $5,800,000

CBRE brokers Daniel Kaplan, Dean Rosenzweig, Justin Arzi, and Jeremy Scholder represented both parties in the transaction. Additionally, Jack's Wife Freda is the tenant associated with this property. The involvement of these key individuals and companies played a significant role in facilitating the successful transaction.

Players

Justin Arzi

CBRE

Broker

$1.2B

vol

38 deals

Broker

Shiraz Sanjana

Buyer

$17.2M

vol

3 deals

Buyer

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

2.73%

Cash-on-Cash

-0.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93