Elevation Equities Acquires Mixed-Use Property In Brooklyn For $2M
344 Lorimer Street, Brooklyn, NY 11206
$2,000,000
$268/SF
Building Size
7,463 SF
Asset Type
Mixed-use
Closing
Jul 1, 2018
About this deal
AI
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.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael (Mike) Salvatico to view all their deals.
Browse New York mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93