Z&G Property Group Acquires Mixed-Use Property In Brooklyn For $5.5M
449 Court Street, Brooklyn, New York 11231, United States
$5,500,000
$384/SF
Building Size
14,300 SF
Asset Type
Mixed-use
Closing
Jan 19, 2022
AI
449-451 Court Street, a mixed-use property in Brooklyn, was recently sold for $5,500,000. Spanning 14,300 square feet, the property boasts an average price per square foot of $384.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,500,000
- Date: 01/19/2022
- Market: Brooklyn
- Buyer: Z+G Property Group - Jay Greenberg
- Brokers: Amit Doshi & Shallini Mehra - Meridian Capital Group & Jay Greenberg - Z+G Property Group
The deal was facilitated by Amit Doshi and Shallini Mehra from the Meridian Capital Group, representing the buyer Z+G Property Group, with Jay Greenberg also representing the buyer. This transaction signifies the ongoing growth and investment in the Brooklyn real estate market.
Players
New York 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93