Elevation Equities Acquires Mixed-Use Property In Brooklyn For $2M
SOLD
$2,000,000
New York
See Similar DealsMixed-use7,463 SF
Sold 07/02/2018
SOLD
Elevation Equities Acquires Mixed-Use Property In Brooklyn For $2M
344 Lorimer Street, Brooklyn, NY 11206
See Similar DealsMixed-use7,463 SF
Sold 07/02/2018
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$268
Total Square Footage:7,463 SF
Transaction Type:Sale
The mixed-use property located at 344 Lorimer Street in Brooklyn, New York was recently sold in a transaction that closed on July 2, 2018. The property, with a building square footage (BSF) of 7,463, was sold for a price of $2,000,000, resulting in a price per buildable square foot (PPBSF) of $268.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,000,000
- Address: 344 Lorimer Street
- Market: Brooklyn
- City: New York
- Seller: Monisha Akhoury
- Buyer: Elevation Equities
- Brokers: Mike Salvatico, Shaun Riney, and Matt Peters (New York Multifamily)
The deal involved the seller, Monisha Akhoury, and the buyer, Elevation Equities. Representing the buyer and seller were brokers Mike Salvatico, Shaun Riney, and Matt Peters from New York Multifamily.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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