Z&G Property Group Acquires Mixed-Use Property In Brooklyn For $5.5M
SOLD
$5,500,000
New York
See Similar DealsMixed-use14,300 SF
Sold 01/19/2022
SOLD
Z&G Property Group Acquires Mixed-Use Property In Brooklyn For $5.5M
449 Court Street, Brooklyn, New York 11231, United States
See Similar DealsMixed-use14,300 SF
Sold 01/19/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$384
Total Square Footage:14,300 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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