Marcus & Millichap Sells Mixed-Use Property In Brooklyn For $2.4M
SOLD
$2,400,000
New York
See Similar DealsMixed-use4,750 SF
Sold 03/21/2019
SOLD
Marcus & Millichap Sells Mixed-Use Property In Brooklyn For $2.4M
358 Knickerbocker Ave, Brooklyn, NY...
See Similar DealsMixed-use4,750 SF
Sold 03/21/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$505
Total Square Footage:4,750 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$127,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69
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