Cycamore Capital Acquires Mixed-Use Property In Bushwick For $2.5M
553 Wilson Ave, Brooklyn, NY 11207, USA
$2,500,000
$529/SF
Building Size
4,725 SF
Asset Type
Mixed-use
Closing
Jul 31, 2018
About this deal
AI
The recently closed transaction at 553 Wilson Avenue in Brooklyn’s Bushwick neighborhood involved a mixed-use property. The property consists of 6 units, with 4 residential units and 2 retail units, spanning a total of 4,725 square feet. The transaction closed on August 1, 2018, with a sale price of $2,500,000, equating to a price per square foot of $529.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $2,500,000
- Building Specs: 6 units (4 residential and 2 retail); 4,725 SF
- Buyer: Johnny Din and Jon Cypers of Cycamore Capital
- Seller: Atkins & Breskin
The buyer's representatives in this transaction were Eric Satanovsky and Matt Cosentino of TerraCRG.
Players
New York 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93