PEAK Capital Acquires Mixed-Use Property On 282 3rd Avenue In Gramercy Park For $5.75M
282 3rd Avenue, Brooklyn, New York 11209, United States
$5,750,000
$974/SF
Building Size
5,900 SF
Asset Type
Mixed-use
Closing
Dec 24, 2021
About this deal
AI
The mixed-use property located at 282 3rd Avenue in Gramercy Park has been sold in a closed transaction. The sale took place on 12/24/2021.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $5,750,000
- Square Footage: 5,900
- Price per Square Foot: $974
- Address: 282 3rd Avenue, Gramercy Park
The buyer of the property was PEAK Capital, represented by Alex Rabin and David Gomez. The seller was Paul Lamarca. The transaction was facilitated by brokers John J. Stewart, Dylan Torey, and Joshua Bluestein from Marcus & Millichap.
It is noteworthy that this was an off-market purchase from long-term ownership. All units were delivered vacant at closing, providing the buyer with a unique opportunity. PEAK Capital, with their new capital sources, has demonstrated the ability to swiftly and efficiently close on new opportunities. They encourage interested parties to submit offerings to [email protected].
On the Map
$5,750,000
$974/SF
Mixed-use
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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
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93