Asset CRG Advisors Sells Mixed Use Development Site In Ocean Hill, East New York For $4.175M
44 Rockaway Avenue, Brooklyn, New York 11233, United States
$4,175,000
$231,944/SF
Building Size
18 SF
Asset Type
Mixed-use
Closing
Apr 17, 2023
AI
Asset CRG Advisors has successfully completed the sale of a mixed-use development site in Ocean Hill, East New York. The property, located at 44 Rockaway Ave and 352 Shepherd Ave, was sold for a total price of $4,175,000. The site spans a total square footage of 18,460, resulting in a price per square foot of $226.
Summary of transaction details
- Property Type: Mixed Use, Development Site
- Transaction Amount: $4,175,000
- Market: Ocean Hill, East New York
Sadya Liberow and Mark Akilov from Asset CRG Advisors served as the brokers for the deal. Asset CRG has transacted on over $200 million in sales in the last 12 months. To discuss these deals or other potential off-market opportunities, you can reach out to Sadya Liberow at 646.363.6175 or [email protected], and Mark Akilov at 646.361.6274 or [email protected].
Asset CRG Advisors continues to thrive in an ever-changing market, ensuring successful transactions like the sale of 44 Rockaway and 352 Shepherd Ave. For those interested in scheduling an interview or exploring available sales positions, please send an email to [email protected].
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.80%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93