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413 Bushwick Avenue

Updated Dec 4, 2024

Richard Pagus Acquires Mixed-Use Property At 413 Bushwick Avenue In East Williamsburg
SOLDMixed-use

Richard Pagus Acquires Mixed-Use Property At 413 Bushwick Avenue In East Williamsburg

413 Bushwick Avenue

$2,200,026

$488/SF

Building Size

4,500 SF

Asset Type

Mixed-use

Closing

Dec 19, 2023

About this deal

AI

The property involved in this closed transaction is a mixed-use asset located at 413 Bushwick Avenue in East Williamsburg. The property spans 4,500 square feet and was sold for a price of $2,200,026, resulting in a price per square foot of $489. The transaction took place between the buyer, Richard Pagus, and the seller, Phillip Miller.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,026
  • Address: 413 Bushwick Avenue
  • Market: East Williamsburg
  • Buyer: Richard Pagus
  • Seller: Phillip Miller
  • Buyer's Representative: Eli Shayestepour - Rosewood Realty Group
  • Seller's Representative: Joshua Malekan - Venture Capital Properties
  • Square Footage: 4,500
  • Price per Square Foot: $489

This off-market deal was successfully closed within 30 days from the initial walkthrough. For any inquiries regarding similar properties for sale, purchase, or evaluation, please reach out to the respective representatives:

On the Map

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$2,200,026

$488/SF

Mixed-use

View full map

Players

Joshua Malekan

Bridge Advisory Group

Broker

$159.5M

vol

48 deals

Broker
Venture Capital Properties
Venture Capital PropertiesBrokerage

Phillip Miller

Seller

$29.4M

vol

7 deals

Seller
Bilt advertisement

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $488 per square foot on a published $2.2M for 4,500 square feet (2023).

Visit Joshua Malekan to view all their deals.

Browse Brooklyn mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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