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348 Atlantic Avenue, Brookl...

Hidrock Properties Sells Boerum Hill Package Deal For $11.85M
SOLDMixed-use

Hidrock Properties Sells Boerum Hill Package Deal For $11.85M

348 Atlantic Avenue, Brooklyn, NY 11217

$11,850,000

$1,004/SF

Building Size

11,800 SF

Asset Type

Mixed-use

Closing

Jul 21, 2020

AI

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

Lev Mavashev

Alpha Realty

Broker

$742M

vol

106 deals

Broker
Hidrock Properties
Hidrock PropertiesSeller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.34%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93