Z&G Property Group Acquires Mixed-Use Asset In Fort Greene For $3.6M
69 Lafayette Avenue, Brooklyn, New York 11217, United States
$3,600,000
$562/SF
Building Size
6,400 SF
Asset Type
Mixed-use
Closing
Jun 9, 2022
AI
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.
Players
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93