Marcus & Millichap Sells Mixed-Use Property In Brooklyn For $2.4M
358 Knickerbocker Ave, Brooklyn, NY...
$2,400,000
$505/SF
Building Size
4,750 SF
Asset Type
Mixed-use
Closing
Mar 21, 2019
AI
The mixed-use property located at 358 Knickerbocker Ave in Brooklyn, NY, was sold for $2,400,000. The asset spans 4,750 square feet and was constructed in 1931.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,400,000.00
- Address: 358 Knickerbocker Ave, Brooklyn, NY
- Market: Brooklyn
Shaun Riney and Thomas Shihadeh from Marcus & Millichap's Brooklyn office were the representatives for the seller in this transaction. The buyer, a private investor, successfully acquired the mixed-use property.
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93