Z&G Property Group Acquires Mixed-Use Asset In Fort Greene For $3.6M
SOLD
$3,600,000
New York
See Similar DealsMixed-use6,400 SF
Sold 06/10/2022
SOLD
Z&G Property Group Acquires Mixed-Use Asset In Fort Greene For $3.6M
69 Lafayette Avenue, Brooklyn, New York 11217, United States
See Similar DealsMixed-use6,400 SF
Sold 06/10/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$562
Total Square Footage:6,400 SF
Transaction Type:Sale
Located at 69 Lafayette Ave in Fort Greene, this mixed-use property was recently sold in a closed transaction. The property spans a total of 6,400 square feet and features a diverse range of uses including residential and commercial spaces. The sale took place on 06/10/2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,600,000
- Price per Square Foot: $562
- Buyer: Z+G Property Group - Jay Greenberg, David Cohen, and Joey Byrne
- Seller: Tretter Family
Z+G Property Group, represented by Jay Greenberg, David Cohen, and Joey Byrne, acquired the property from the Tretter Family. The deal was closed at a total price of $3,600,000, translating to a per square foot price of $562. This transaction marks a successful investment for Z+G Property Group in the Fort Greene market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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