The Gaston Family Acquires Mixed-Use Property In Brooklyn For $16.5M
SOLD
$16,500,000
+ 3
New York
See Similar DealsMixed-use22,786 SF
Sold 08/05/2021
SOLD
The Gaston Family Acquires Mixed-Use Property In Brooklyn For $16.5M
333 Atlantic Avenue, Brooklyn, NY, USA
See Similar DealsMixed-use22,786 SF
Sold 08/05/2021
+ 3
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$724
Total Square Footage:22,786 SF
Transaction Type:Sale
The mixed-use property located at 333 Atlantic Avenue in Brooklyn has been sold in a recent transaction. The property is spread across 22,786 square feet and was sold for a price of $16,500,000, resulting in a price per square foot of $724.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $16,500,000
- Date: 08/05/2021
- Address: 333 Atlantic Avenue
- Market: Brooklyn
- Buyer: The Gaston Family
- Seller: Michael Tsoumpas
The deal was facilitated by Brendan Maddigan, Ethan Stanton, Stephen Palmese, Winfield Clifford, and Michael Mazzara from JLL. They represented their respective parties in the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$880,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,621.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,218.42
Annual Debt Service$938,621.01
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