The Cofinance Group Acquires Mixed-Use Property In Boerum Hill For $11.9M
SOLD
$11,850,001
New York
See Similar DealsMixed-use11,148 SF
Sold 07/21/2020
SOLD
The Cofinance Group Acquires Mixed-Use Property In Boerum Hill For $11.9M
348 Atlantic Ave, Boerum Hill, Brooklyn, NY, USA
See Similar DealsMixed-use11,148 SF
Sold 07/21/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,063
Total Square Footage:11,148 SF
Transaction Type:Sale
348 Atlantic Ave. & 336 State St. in Boerum Hill has been sold in a mixed-use transaction. The property, with a total square footage of 11,148, is classified as tax class 2B. The sale took place on July 21, 2021, with a sale price of $11,850,001. The property consists of 12 units.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $11,850,001
- Address: 348 Atlantic Ave. & 336 State St.
- Market: Boerum Hill
- Tax Class: 2B
The buyer for this transaction is The Cofinance Group, represented by Mark Winter Gitelson and Alexandre de Montebello. The seller is Hidrock Properties, owned by the Hidary Family.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$632,000.03
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,100.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,175.05
Annual Debt Service$674,100.60
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