Charlie Brosens & Seth Weissman Acquire Mixed-use Property In Brooklyn For $8M
719 5th Ave, Brooklyn, NY 11215, USA
$8,000,000
$470/SF
Building Size
17,000 SF
Asset Type
Mixed-use
Closing
Mar 18, 2020
About this deal
AI
The mixed-use property located at 719-722 5th Avenue in Brooklyn has been sold for a price of $8,000,000. Spanning over an area of 17,000 square feet, the property was sold at a rate of $470.58 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,000,000
Urban Standard Capital, represented by Charlie Brosens and Seth Weissman, was the buyer in this transaction. Mariusz Witek served as the seller of the property. The brokers involved in the deal were Jakub Nowak, Jake Torre, Matt Rosenzweig, and Jesse Kay.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93