Private Investor Acquires Property In Brooklyn For $2 Million With Seller's Reps Matthew Fotis And Dylan Renicker
SOLD
$2,000,000
New York
See Similar DealsMixed-use
SOLD
Private Investor Acquires Property In Brooklyn For $2 Million With Seller's Reps Matthew Fotis And Dylan Renicker
40 Nostrand Ave, Brooklyn, NY, 11205
See Similar DealsMixed-use
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
The transaction involves the sale of a four-story, mixed-use building located at 40 Nostrand Ave, Brooklyn, NY, 11205. The property consists of one retail unit and six residential units, and was sold for $2,000,000.00. The square footage is noted as 0.
Summary of transaction details:
- Property Type: Mixed-Use Building
- Transaction Amount: $2,000,000.00
- Address: 40 Nostrand Ave, Brooklyn, NY, 11205
- Market: Brooklyn
- Seller’s Representative: Matthew (Matt) Fotis - Marcus & Millichap
- Co-Representative: Dylan Renicker
- Buyer: Private Investor
Matt Fotis and Dylan Renicker from Marcus & Millichap’s Manhattan office represented the seller, who is a private investor. The buyer, also a private investor, finalized the deal guided by the noted representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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