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660 Fulton St, Brooklyn, NY...

Firebird Grove Acquires Mixed-Use Property In Fort Greene For $7.5M
SOLDMixed-use

Firebird Grove Acquires Mixed-Use Property In Fort Greene For $7.5M

660 Fulton St, Brooklyn, NY 11217, USA

$1,700,000

$553/SF

Building Size

3,074 SF

Asset Type

Mixed-use

Closing

Sep 30, 2020

AI

A mixed-use property located at 666 Fulton Street in Fort Greene was recently sold for a total of $7,500,000. The property consists of 5 units, with an average price per unit of $1,500,000. The total square footage of the property is 7,948, resulting in a price per square foot of $943.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $7,500,000
  • Address: 666 Fulton Street
  • Market: Fort Greene

The buyer, Firebird Grove, completed the purchase from the seller, Robert Pollock. Firebird Grove was represented by their broker, Firebird Grove - Real Estate Agency.

Players

Derek Bestreich

Investment Property Realty Group (IPRG)

Broker

$1.1B

vol

318 deals

Broker
FG
Firebird GroveBuyer

Robert Pollock

Seller

$17.1M

vol

3 deals

Seller

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

9.33%

Cash-on-Cash

-2.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93