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719 5th Ave, Brooklyn, NY 1...

Charlie Brosens & Seth Weissman Acquire Mixed-use Property In Brooklyn For $8M
SOLDMixed-use

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

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

Jesse Kay

Marcus & Millichap

Broker

$114.1M

vol

28 deals

Broker
Seth Weissman

Seth Weissman

Urban Standard Capital

Buyer

$590.5M

vol

56 deals

Buyer

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