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
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