The Yao Family Acquires Mixed-Use Property In Cobble Hill, Brooklyn For $2.01M
287 Court Street, Brooklyn, New York 11231, United States
$2,010,000
$837/SF
Building Size
2,400 SF
Asset Type
Mixed-use
Closing
Jan 24, 2022
About this deal
AI
The mixed-use property located at 287 Court Street in Cobble Hill, Brooklyn has been sold in a recent transaction. The sale took place on January 25, 2022, with a sale price of $2,010,000. The property spans across 2,400 square feet, resulting in a price per square foot of $837. The asset is in need of extensive structural and cosmetic rehabilitation.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,010,000
- Address: 287 Court Street, Cobble Hill, Brooklyn
- Market: Cobble Hill, Brooklyn
The buyer of the property is the Yao Family, while the seller is the Smith Family. The transaction was facilitated by Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah, and Gabriel Kates from Bestreich Realty Group (BRG).
Please note that the property was delivered vacant and requires significant structural and cosmetic rehabilitation.
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
7.89%
Cash-on-Cash
-2.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93