Firebird Grove Acquires Mixed-Use Property In Fort Greene, Brooklyn For $7.9M
SOLD
$7,900,000
New York
See Similar DealsMixed-use9,960 SF
Sold 08/04/2022
SOLD
Firebird Grove Acquires Mixed-Use Property In Fort Greene, Brooklyn For $7.9M
662 Fulton Mall, Brooklyn, New York 11201, United States
See Similar DealsMixed-use9,960 SF
Sold 08/04/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$793
Total Square Footage:9,960 SF
Transaction Type:Sale
A mixed-use property located at 662 Fulton Street in Fort Greene, Brooklyn, has been sold in a recent transaction. The property is comprised of 5 units, with a total square footage of 9,960. The sale price for this property was $7,900,000, resulting in a price per unit of $1,580,000 and a price per square foot of $793.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,900,000
- Address: 662 Fulton Street
- Market: Fort Greene, Brooklyn
- Buyer: Firebird Grove
- Seller: Robert Pollock
- Units: 5
- Price per Unit: $1,580,000
- Square Footage: 9,960
- Price per Square Foot: $793
Firebird Grove, represented by their broker, successfully acquired the property from the seller, Robert Pollock. This transaction highlights the active real estate market in Fort Greene, Brooklyn.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$421,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,067.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,450.03
Annual Debt Service$449,400.36
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