Hidrock Properties Sells Boerum Hill Package Deal For $11.85M
SOLD
$11,850,000
New York
See Similar DealsMixed-use11,800 SF
Sold 07/21/2020
SOLD
Hidrock Properties Sells Boerum Hill Package Deal For $11.85M
348 Atlantic Avenue, Brooklyn, NY 11217
See Similar DealsMixed-use11,800 SF
Sold 07/21/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,004
Total Square Footage:11,800 SF
Transaction Type:Sale
Three properties located at 348 Atlantic Ave., 336 State St., and 75 Hoyt St. in Boerum Hill have been sold in a package deal. The assets, with a total area of 11,800 square feet, were sold by Hidrock Properties for a price of $11,850,000. The sale price per square foot was $1,004.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $11,850,000
- Address: 348 Atlantic Ave., 336 State St., and 75 Hoyt St.
- Market: Boerum Hill
The transaction was facilitated by brokers Lev Mavashev and Daniel Aminov. These individuals represented either the buyer or seller in the deal, although the specific role is not mentioned in the available information.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$631,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,100.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,175.05
Annual Debt Service$674,100.55
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