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384 South 2nd Street

Simko Family Acquires Mixed-Use Asset In Williamsburg For $1.76M
SOLDMixed-use

Simko Family Acquires Mixed-Use Asset In Williamsburg For $1.76M

384 South 2nd Street

$1,760,000

$733/SF

Building Size

2,400 SF

Asset Type

Mixed-use

Closing

Feb 28, 2024

AI

The mixed-use property located at 384 South 2nd Street in Williamsburg, Brooklyn, was recently sold for $1,760,000. The property spans 2,400 square feet, resulting in a price per square foot of $733. The transaction took place on 02/28/2024, with Michael Weiser & Zachary Fuchs representing the property.

Summary of transaction details:

The key individuals involved in this transaction were Moshe Goldberger from GFI Realty Services, representing the Simko Family as the buyer, and Zachary Fuchs, also from GFI Realty Services, representing Mendel Gold as the seller. The deal showcases the collaboration between these professionals in facilitating the sale of the mixed-use property in Williamsburg.

Players

Zachary Fuchs

GFI Realty Services

Broker

$325.2M

vol

63 deals

Broker

Brooklyn 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

9.01%

Cash-on-Cash

-2.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93