Connor Domershick, Max Maleh & Joel Gorjian Acquire Mixed-Use Property On Hoyt Street In Boerum Hill For $1.95M
84 Hoyt Street, Brooklyn, New York 11201, United States
$1,950,000
$884/SF
Building Size
2,205 SF
Asset Type
Mixed-use
Closing
Dec 16, 2021
AI
Located in Boerum Hill, the mixed-use property at 84 Hoyt Street has recently been sold in a closed transaction. The property, with a total area of 2,205 square feet, features a desirable combination of residential and commercial spaces. Spanning across a variety of zoning classifications, including R7A, C2-4, and DB, this property offers versatile options for future use.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,950,000
- Address: 84 Hoyt Street
- Market: Boerum Hill
- Zoning: R7A, C2-4, DB
The successful buyers of this property are Connor Domershick, Max Maleh, and Joel Gorjian. Assisting them in the transaction was Rich Velotta from Raven Property Advisors, who represented the buyers as their broker. This collaborative effort between the buyers and their representative ensured a smooth and efficient deal.
The sale price for this mixed-use property amounted to $1,950,000, resulting in a price per square foot of $884. With a total area of 2,205 square feet, the property offers ample space for both residential and commercial purposes. The buyers, Connor Domershick, Max Maleh, and Joel Gorjian, made a wise investment in acquiring this versatile asset in Boerum Hill.
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
8.13%
Cash-on-Cash
-2.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93