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489 3rd Avenue

Christopher Leahy Of MRM Equity Acquires Mixed-Use Property From Chaim Wurzberger For $7.25M
SOLDMixed-use

Christopher Leahy Of MRM Equity Acquires Mixed-Use Property From Chaim Wurzberger For $7.25M

489 3rd Avenue

$7,249,986

$954/SF

Building Size

7,598 SF

Asset Type

Mixed-use

Closing

Dec 30, 2024

AI

The property asset involved in the transaction is a mixed-use building located at 489 3rd Avenue in the Gowanus market of Brooklyn. The total sale price was $7,249,986, with a total square footage of 7,598 and a price per square foot of $954.

Summary of transaction details:

The key individuals involved in this deal include Christopher Leahy representing MRM Equity as the buyer and Chaim Wurzberger from Candor Capital as the seller. The transaction was facilitated by a team of brokers from Investment Property Realty Group (IPRG), including Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Samantha Katz.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$602.2M

vol

141 deals

Broker

Brooklyn 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

2.19%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93