Jiang Family Acquires Mixed-Use Property From Misseri Family In Brooklyn For $1.8M
7102 Fort Hamilton Parkway
$1,800,000
$436/SF
Building Size
4,125 SF
Asset Type
Mixed-use
Closing
Jan 17, 2025
AI
The mixed-use property located at 7102 Fort Hamilton Parkway in Brooklyn was sold for $1,800,000. It has a total square footage of 4,125, translating to a price per square foot of $436. The sale occurred amidst a competitive market scenario, leading to multiple offers.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,800,000
- Square Footage: 4,125
- Price Per Square Foot: $436
- Buyer: Jiang Family
- Seller: Misseri Family
- Brokers: John Brennan & Bryan Ellis - Marcus & Millichap
- Cap Rate: 1.77%
- Number of Offers: 8
The transaction was facilitated by the Brennan Team, who successfully generated eight written offers. The buyer, identified as a 1031 exchange participant, secured the deal at a favorable cap rate.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93