Mark Twaiti Acquires Mixed-Use Property In Gravesend For $2.7M
370 Avenue P, Brooklyn, New York 11223, United States
$2,700,000
$324/SF
Building Size
8,325 SF
Asset Type
Mixed-use
Closing
Aug 23, 2022
About this deal
AI
The mixed-use property located at 370 Avenue P in the Gravesend market has been sold for a price of $2,700,000. The transaction took place on 08/24/2022 and involved a total area of 8,325 square feet. The property was purchased by Mark Twaiti from the seller, Phil Knoll. The deal was facilitated by Avraham Birnbaum from Twelve Stones Realty who represented the buyer in the transaction. The property was sold at a price per square foot of $324.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,700,000
- Address: 370 Avenue P
- Market: Gravesend
A special thanks goes to Alex Jaffa and Alex Freund of Eastern Union for providing the financing in this transaction.
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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93