Somerset Real Estate LLC Acquires Mixed-Use Property In Williamsburg For $4.5M
SOLD
$1,830,000
New York
See Similar DealsMixed-use2,730 SF
Sold 09/18/2020
SOLD
Somerset Real Estate LLC Acquires Mixed-Use Property In Williamsburg For $4.5M
138 Havemeyer St, Brooklyn, NY 11211, USA
See Similar DealsMixed-use2,730 SF
Sold 09/18/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$670
Total Square Footage:2,730 SF
Transaction Type:Sale
Located in Williamsburg, Brooklyn, the mixed-use property at 278 Grand Street has been sold in a recent transaction. The sale was facilitated by Dennis McCormick, the seller of the property. The buyer's representative in the deal was Andrew Roth from Somerset Real Estate LLC, while Michal Kuras represented the seller.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $4,500,000
- Address: 278 Grand Street
- Market: Williamsburg, Brooklyn
The property spans across 7,695 square feet, with a price per square foot of $585. The transaction closed on October 19, 2022, and the image of the property can be found on Andrew Roth's Instagram page.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$97,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,501.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,675.13
Annual Debt Service$104,101.60
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