Aperture Holdings Acquires Mixed-Use Property In Brooklyn For $2.2M
718 Lorimer Street, Brooklyn, NY 11211
$2,215,000
$537/SF
Building Size
4,125 SF
Asset Type
Mixed-use
Closing
Jul 26, 2020
About this deal
AI
The property located at 718 Lorimer Street in Brooklyn has been sold for a total price of $2,215,000. The mixed-use asset consists of 6 units with a per unit price of $369,166. The total square footage of the property is 4,125, resulting in a price per square foot of $536. The sale took place on July 26, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,215,000
- Units: 6
- Price per Unit: $369,166
- Total Square Footage: 4,125
- Price per Square Foot: $536
The buyer of the property is Aperture Holdings, represented by Pir Granoff and Douglas Baillie. The seller is The Pasquenza Family. The brokers involved in the deal include Shaun Riney, Michael Salvatico, and Sam Leppo from NewYorkMultifamily and MarcusMillchap_NY.
It is worth noting that the building comprises of 4 FM apartments, 1 rent controlled unit, and one vacant store in the front left of the property.
On the Map
$2,215,000
$537/SF
Mixed-use
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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
7.16%
Cash-on-Cash
-2.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93