Avanath Capital Management LLC Acquires Mixed-Use Property In Brooklyn For $315M
SOLD
New York
See Similar DealsMixed-use
Sold 05/27/2022
SOLD
Avanath Capital Management LLC Acquires Mixed-Use Property In Brooklyn For $315M
38 6th Avenue
See Similar DealsMixed-use
Sold 05/27/2022
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
Daryl Carter & John R. Williams have successfully closed a mixed-use property transaction in Brooklyn. The property is located at 38 6th Avenue & 535 Carlton Avenue. The sale took place on 05/28/2022, with Avanath Capital Management LLC acquiring the property for a total price of $315,000,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $315,000,000
- Market: Brooklyn
- Buyer: Avanath Capital Management LLC - Daryl Carter & John R. Williams
Daryl Carter & John R. Williams represented Avanath Capital Management LLC as their brokers in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$16,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,119,128.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,493,260.71
Annual Debt Service$17,919,128.47
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