Mark Twaiti Acquires Mixed-Use Property In Gravesend For $2.7M
SOLD
$2,700,000
New York
See Similar DealsMixed-use8,325 SF
Sold 08/24/2022
SOLD
Mark Twaiti Acquires Mixed-Use Property In Gravesend For $2.7M
370 Avenue P, Brooklyn, New York 11223, United States
See Similar DealsMixed-use8,325 SF
Sold 08/24/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$324
Total Square Footage:8,325 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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