Icer Properties And KSR Capital Acquire Mixed-Use Property In Bushwick For $2.9M
266 Wyckoff Avenue, Brooklyn, NY, USA
$2,900,000
$339/SF
Building Size
8,543 SF
Asset Type
Mixed-use
Closing
Jul 6, 2021
About this deal
AI
The mixed-use property located at 266 Wyckoff Avenue & 242 Jefferson Street in Bushwick has been sold. The transaction took place on July 7, 2021. The property consists of 12 units, with a total of 8,543 square feet. The sale price for the property was $2,900,000, resulting in a price per unit of $241,666 and a price per square foot of $339.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $2,900,000
The buyers involved in the transaction are Icer Properties represented by Joseph Jemal and KSR Capital represented by Morris Sabbagh. The seller of the property is Maria Coniglio. The deal was facilitated by brokers Derek Bestreich, Steve Reynolds, Brian Davila, and Tom Reynolds from Bestreich Realty Group.
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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93