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629 Classon Avenue

Johnny Din And Jake Kolb Acquire Mixed-use Property In Crown Heights, Brooklyn For $2.13M
SOLDMixed-use

Johnny Din And Jake Kolb Acquire Mixed-use Property In Crown Heights, Brooklyn For $2.13M

629 Classon Avenue

$2,130,000

$461/SF

Building Size

4,620 SF

Asset Type

Mixed-use

Closing

Sep 19, 2022

AI

The mixed-use property located at 629 Classon Ave. in Crown Heights, Brooklyn has been sold for a total price of $2,130,000. The property spans 4,620 square feet, resulting in a price per square foot of $461. The transaction took place on September 19, 2022.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,130,000
  • Address: 629 Classon Ave., Crown Heights, Brooklyn
  • Market: Crown Heights, Brooklyn
  • Buyer: Johnny Din & Jake Kolb
  • Seller: Joyce Huang
  • Brokers: Dov Chein & Benjamin Vago, Esq. - Ariel Property Advisors
  • Square Footage: 4,620
  • Price per Square Foot: $461

The sale of this property was facilitated by Dov Chein and Benjamin Vago, Esq. of Ariel Property Advisors, who represented the buyers, Johnny Din and Jake Kolb. The transaction brings together the parties involved in this lucrative deal within the Crown Heights market.

Players

Dov Chein

Ariel Property Advisors

Broker

$27.4M

vol

9 deals

Broker
Johnny Din

Johnny Din

Buyer

$35.9M

vol

16 deals

Buyer

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

7.45%

Cash-on-Cash

-2.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93