Herman Jacob Acquires Mixed-Use Property In Bedford Stuyvesant For $5.5M
499 Dekalb Avenue, Brooklyn, New York 11205, United States
$5,500,000
$550,000/SF
Building Size
10 SF
Asset Type
Mixed-use
Closing
Nov 17, 2022
About this deal
AI
The mixed-use property located at 499 Dekalb Ave, 501 & 503 Dekalb Ave in Bedford Stuyvesant has been sold for a total price of $5,500,000. The property spans across 10,000 square feet, resulting in a price per square foot of $550. The transaction took place on November 17, 2022, with the buyer being Herman Jacob and the seller being the Estate of Victor Battaglia.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $5,500,000
- Address: 499 Dekalb Ave, 501 & 503 Dekalb Ave
- Market: Bedford Stuyvesant
- Square Footage: 10,000
- Price per Square Foot: $550
- Buyer: Herman Jacob
- Seller: The Estate Of Victor Battaglia
Herman Jacob represented himself as the buyer in this transaction, while the Estate of Victor Battaglia was represented by their estate lawyer as the seller's representative.
Players
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93