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Adam J Hess & Edward Setton Of Meridian Capital Group Facilitate $2.7M Mixed-Use Property Sale In Prospect Heights

Property Image
SOLD
$2,700,000
Edward (Eddie) Setton
Adam J Hess

New York

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Mixed-use4,480 SF
Sold 05/07/2024
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Property Image
SOLD

Adam J Hess & Edward Setton Of Meridian Capital Group Facilitate $2.7M Mixed-Use Property Sale In Prospect Heights

656 Vanderbilt Avenue

See Similar Deals
Mixed-use4,480 SF
Sold 05/07/2024
Edward (Eddie) Setton
Adam J Hess
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$602
Total Square Footage:4,480 SF
Transaction Type:Sale

The property located at 656 Vanderbilt Avenue in Prospect Heights, Brooklyn is a mixed-use/development site consisting of 2 apartments situated above a retail space. The property spans 4,480 square feet and was sold for $2,700,000, equating to $603 per square foot. The price per buildable square foot stands at $300.

Summary of transaction details:

  • Property Type: Mixed-use/Development Site
  • Transaction Amount: $2,700,000
  • Address: 656 Vanderbilt Avenue
  • Market: Prospect Heights, Brooklyn
  • Square Footage: 4,480
  • Price per Sq Foot: $603
  • Price per Buildable Sq Foot: $300

Adam J Hess and Edward Setton from Meridian Capital Group facilitated the transaction as the brokers representing the parties involved in the sale of the property.

Players

Edward (Eddie) Setton
Sterling Property Group NY
Edward Setton
55 deals$251.4M volume
BROKER
Adam J Hess
Sterling Property Group NY
Adam J Hess
57 deals$251.4M volume
BROKER

Details

SOLD
IMAGE: Adam J Hess & Edward Setton DATE: 05/07/2024 ADDRESS: 656 Vanderbilt Avenue MARKET: Prospect Heights, Brooklyn ASSET TYPE: Mixed-use/Development Site (2 Apts over 1 Retail Space) BROKERS: Adam J Hess (@TeamHessBK) & Edward Setton - Meridian Capital Group (@Meridian.Capital.Group) SALE PRICE: $2,700,000 SF: 4,480 ~ PPSF: $603 PPBSF: $300

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
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