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Albert Laboz, Jason Laboz & Jody Laboz Of United American Land Acquire Mixed-Use Buildings For $14.5M
SOLD
$14,500,000
New York
See Similar DealsMixed-use
Sold 09/10/2025
SOLD
Albert Laboz, Jason Laboz & Jody Laboz Of United American Land Acquire Mixed-Use Buildings For $14.5M
48 Willoughby Street, 385 Jay Street & 387 Jay Street
See Similar DealsMixed-use
Sold 09/10/2025
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
United American Land acquired three adjacent mixed-use buildings located at 48 Willoughby Street, 385 Jay Street, and 387 Jay Street in Downtown Brooklyn for $14,500,000. The transaction added a total of 41,000 buildable square feet to the buyer's existing portfolio.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $14,500,000
- Buyer: Albert Laboz, Jason Laboz & Jody Laboz - United American Land
- Seller: David Pankin - Pankin Family
This transaction involved key players from both the buying and selling sides, highlighting the roles of Albert Laboz, Jason Laboz, and Jody Laboz representing United American Land, while David Pankin represented the Pankin Family in the deal.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$773,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77
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