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84 Hoyt Street, Brooklyn, N...

Connor Domershick, Max Maleh & Joel Gorjian Acquire Mixed-Use Property On Hoyt Street In Boerum Hill For $1.95M
SOLDMixed-use

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

Richard Velotta

Raven Property Advisors

Broker

$409M

vol

30 deals

Broker

Connor Domershick

Conway Capital

Buyer

$57M

vol

15 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

8.13%

Cash-on-Cash

-2.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93