Sunlight Development Purchases Mixed-use Property At 816 58th Street Brooklyn For $9.8M With Koban Properties
SOLD
$9,800,000
New York
See Similar DealsMixed-use27,177 SF
Sold 08/14/2024
SOLD
Sunlight Development Purchases Mixed-use Property At 816 58th Street Brooklyn For $9.8M With Koban Properties
816 58th Street
See Similar DealsMixed-use27,177 SF
Sold 08/14/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$360
Total Square Footage:27,177 SF
Transaction Type:Sale
The property involved in this transaction is a mixed-use asset located at 816 58th Street in Brooklyn. The sale price was set at $9,800,000, covering a total square footage of 27,177, which translates to a price per square foot of $360.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $9,800,000
- Address: 816 58th Street
- Market: Brooklyn
- Square Footage: 27,177
- Price per Square Foot: $360
- Buyer: Sunlight Development
- Seller: Koban Properties - William S. Chou
- Broker: Peter Grazioli - Brown Harris Stevens
The deal involved Sunlight Development as the buyer and Koban Properties, represented by William S. Chou, as the seller. The representation for the transaction was provided by broker Peter Grazioli from Brown Harris Stevens.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$522,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,817.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,457.00
Annual Debt Service$557,484.00
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