Real Estate Discovery Ventures Acquires Mixed-Use Commercial/Retail Property In Brooklyn For $23M
2857 W 8th St, Brooklyn, NY 11224, USA
Building Size
861,600 SF
Asset Type
Mixed-use
Closing
Mar 28, 2018
About this deal
AI
The mixed-use commercial/retail property located at 2857 West 8th Street in Brooklyn, New York has been sold for a total of $23,000,000. The property spans across 86,160 square feet and has a price per square foot of $266. It is situated in a thriving market in Brooklyn.
Summary of transaction details
- Property Type: Mixed-use Commercial/Retail
- Transaction Amount: $23,000,000
- Square Footage: 86,160 sf
- Price Per Square Foot: $266
- Address: 2857 West 8th Street, New York
- Market: Brooklyn
The seller of the property is Steven Samuels. The buyer of the property is Real Estate Discovery Ventures, represented by Dmitry Volkov, Alexey Pleshakov, and Vladislav Poshmorga. The transaction involved the purchase of the fully occupied building, which currently houses various retail tenants.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93