Kings Capital Acquires Mixed-Use Property In Stuyvesant Heights For $1.25M
358 Marcus Garvey Boulevard
$1,250,000
$312/SF
Building Size
4,000 SF
Asset Type
Mixed-use
Closing
Mar 1, 2022
About this deal
AI
Located in Stuyvesant Heights, the mixed-use property at 358 Marcus Garvey Blvd. has recently been sold for a price of $1,250,000. The transaction took place on 03/01/2022 and involved the Estate of Fest Stallings as the seller. The buyer was Kings Capital, represented by George Giannopoulos and Asher Babazadeh.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $1,250,000
- Address: 358 Marcus Garvey Blvd.
- Market: Stuyvesant Heights
Kings Capital, a buyer in this transaction, is actively looking for value-add multifamily, mix-use, and development opportunities in Manhattan, Brooklyn, and Queens, as well as garden-style apartment complexes in the sunbelt states. Brokers are encouraged to submit property proposals to [email protected] for review. It's worth mentioning that The Law Offices of Joseph Cohen Esq. played a significant role during this transaction, and the buyer expresses their gratitude for their hard work.
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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93