Joseph Salerno Acquires Mixed-Use Property On Graham Avenue, Williamsburg For $2.0M
58 Graham Avenue
$2,038,000
$297/SF
Building Size
6,861 SF
Asset Type
Mixed-use
Closing
Dec 8, 2022
About this deal
AI
The mixed-use property located at 58 Graham Avenue in Williamsburg, Brooklyn has been sold in a recent transaction. The buyer, Joseph Salerno, acquired the property from the Goldes Family. The deal was facilitated by Stephen R. Preuss Sr, Kevin Louie, Kevin Schmitz, and Andreas Efthymiou from Ripco Investment Sales. The transaction closed on 12/08/2022 at a sale price of $2,038,000.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $2,038,000
- Address: 58 Graham Avenue, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Buyer: Joseph Salerno
- Seller: Goldes Family
- Brokers: Stephen R. Preuss Sr, Kevin Louie, Kevin Schmitz & Andreas Efthymiou - Ripco Investment Sales
This successful transaction involved the collaboration of Joseph Salerno as the buyer and the Goldes Family as the seller. Stephen R. Preuss Sr, Kevin Louie, Kevin Schmitz, and Andreas Efthymiou represented Ripco Investment Sales in facilitating the deal. The mixed-use property spans 6,861 square feet and was sold at a price per square foot of $297.
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
7.78%
Cash-on-Cash
-2.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93