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
About this deal
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.
On the Map
$11,850,000
$1,004/SF
Mixed-use
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Players
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