Investment Property Realty Group (IPRG) Brokers Facilitate $2.5M Mixed-Use Sale In Boerum Hill
SOLD
$55,000,000
New York
See Similar DealsMixed-use52,000 SF
Sold 11/30/2020
SOLD
Investment Property Realty Group (IPRG) Brokers Facilitate $2.5M Mixed-Use Sale In Boerum Hill
32 3rd Ave, Brooklyn, NY 11217, USA
See Similar DealsMixed-use52,000 SF
Sold 11/30/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,057
Total Square Footage:52,000 SF
Transaction Type:Sale
Located in Boerum Hill, the mixed-use property at 479 Atlantic Ave. has recently been sold for $2,475,000. Spread across 3,200 square feet, this property offers a versatile space for various purposes. With a price per square foot of $773, this transaction indicates a significant investment in the area.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,475,000
- Address: 479 Atlantic Ave.
- Market: Boerum Hill
The sale of this property was facilitated by Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Gabriel Kates, and Daniel Shawah from Investment Property Realty Group (IPRG). These brokers played a crucial role in representing the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,933,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$195,403.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$260,728.06
Annual Debt Service$3,128,736.72
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