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35 Remsen Street

Vadem Brodsky Acquires Mixed-Use Building In Brooklyn Heights For $7.7M
SOLDMixed-use

Vadem Brodsky Acquires Mixed-Use Building In Brooklyn Heights For $7.7M

35 Remsen Street

$7,700,000

$924/SF

Building Size

8,330 SF

Asset Type

Mixed-use

Closing

Nov 14, 2023

AI

A mixed-use building located at 35 Remsen Street in Brooklyn Heights, Brooklyn has been sold. The property, consisting of two units, was purchased by Vadem Brodsky for a total price of $7.7 million. The building spans a total area of 8,330 square feet, resulting in a price per square foot of $924.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $7,700,000
  • Address: 35 Remsen Street, Brooklyn Heights, Brooklyn
  • Square Footage: 8,330
  • Price per Square Foot: $924
  • Buyer: Vadem Brodsky
  • Seller: Eugenia E. Fasano

Vadem Brodsky, represented by Remsen Ventures LLC, acquired the two-unit mixed-use building located at 35 Remsen Street in Brooklyn Heights. The property was purchased from the estate of Eugenia E. Fasano for a total price of $7.7 million. The transaction was successfully completed on the specified sale date of 11/14/2023.

Players

Vadem Brodsky

Buyer

$26.9M

vol

4 deals

Buyer

Brooklyn 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

2.06%

Cash-on-Cash

-0.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93