Adam Lobel And Toby Waring Acquire Mixed Use Property In Carroll Gardens, Brooklyn For $2.55M
552 Court St #9th, Brooklyn, NY 11231, USA
$2,550,000
$850/SF
Building Size
3,000 SF
Asset Type
Mixed-use
Closing
Aug 20, 2018
About this deal
AI
An mixed-use property located at 552 Court Street, between West 9th St and Garnet St in Carroll Gardens, Brooklyn, has been sold. The property includes 2 apartments and 1 store, and was sold for a price of $2,550,000. The sale represents a capitalization rate (CAP rate) of 3.82% and a gross rent multiplier (GRM) of 22.30x. The GRM per square foot is $850/SF.
Summary of transaction details
- Property Type: Mixed Use – 2 Apts & 1 Store
- Transaction Amount: $2,550,000
- Location: 552 Court Street, Carroll Gardens, Brooklyn, New York
- CAP Rate: 3.82%
- GRM: 22.30x
- GRM PPSF: $850/SF
The property was sold by Mario Randazzo and George Grandville. There is no additional information available about the buyer or any brokers involved in the transaction.
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
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93