Private Investor Acquires Mixed-Use Property In Brooklyn For $3,075,000, With TerraCRG As Brokers
3rd Ave, New York, NY, USA
Building Size
3,900 SF
Asset Type
Mixed-use
Closing
Dec 13, 2017
About this deal
AI
The mixed-use property located at 7001 Third Avenue in Brooklyn, New York has been sold in a closed transaction. The property consists of 3,900 square feet and was sold for a price of $3,075,000, resulting in a price per square foot of $788.
Summary of Transaction Details
- Property Type: Mixed-Use
- Transaction Amount: $3,075,000
- Address: 7001 Third Avenue, Brooklyn, New York
- Market: Brooklyn
The seller of the property was Workable Ovington LLC, while the buyer was a private investor. The transaction was facilitated by TerraCRG, with Peter Matheos and David Algarin representing the brokerage agency.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93