David Bowen & Matthew Wright Acquire Mixed-Use Property At 280-288 Utica Avenue In Crown Heights, Brooklyn
280 Utica Ave, Brooklyn, NY 11213, USA
$7,325,000
$678/SF
Building Size
10,800 SF
Asset Type
Mixed-use
Closing
Jul 30, 2019
AI
The mixed-use property located at 280-288 Utica Avenue in Crown Heights, Brooklyn has been sold in a closed transaction. The property consists of approximately 10,800 square feet and was listed at an asking price of $7,950,000. The final sale price was recorded as $7,325,000, resulting in a price per square foot of $678. The property generates a gross income of $520,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,325,000
- Address: 280-288 Utica Avenue, Brooklyn, NY
- Market: Crown Heights, Brooklyn
- Square Footage: 10,800
- Asking Price: $7,950,000
- Price per Square Foot: $678
- Gross Income: $520,000
The seller of the property was Jung Kwon, represented by Daniel Abbondandolo, DJ Johnston, and Dimitri Mastrogiannis. The buyer of the property is David Bowen and Matthew Wright.
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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93