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287 Smith Street, Carroll G...

Updated Sep 9, 2024

Dawn Mark Acquires Mixed-Use Property In Carroll Gardens, Brooklyn For $1.9M
SOLDMixed-use

Dawn Mark Acquires Mixed-Use Property In Carroll Gardens, Brooklyn For $1.9M

287 Smith Street, Carroll Gardens, Brooklyn, NY, USA

$1,905,000

$721/SF

Building Size

2,640 SF

Asset Type

Mixed-use

Closing

Mar 21, 2021

About this deal

AI

A mixed-use property located at 287 Smith Street in Carroll Gardens, Brooklyn was recently sold for a total price of $1,905,000. The sale took place on 03/22/2021 and involved the buyer, Dawn Mark, and the sellers, Doreen Patterson and Stephen Tricoma. The property consists of 3 units with a price per unit of $635,000. It spans a total square footage of 2,640, resulting in a price per square foot of $721.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,905,000
  • Units: 3
  • Price per Unit: $635,000
  • Square Footage: 2,640
  • Price per Square Foot: $721
  • Buyer: Dawn Mark
  • Seller: Doreen Patterson & Stephen Tricoma

The deal was facilitated by the brokers Daniel Shawah, Adam Lobel, and Derek Bestreich from Bestreich Realty Group. The property was delivered vacant and is in need of substantial renovation. For similar property selling inquiries, interested parties can contact Bestreich Realty Group at 718-360-8801.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$628.5M

vol

147 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $721 per square foot on a published $1.9M for 2,640 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.33%

Cash-on-Cash

-2.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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