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880 Manhattan Avenue

Peak Capital Acquires Mixed-Use Property In Greenpoint For $3.3M
SOLDMixed-use

Peak Capital Acquires Mixed-Use Property In Greenpoint For $3.3M

880 Manhattan Avenue

$3,275,000

$744/SF

Building Size

4,400 SF

Asset Type

Mixed-use

Closing

Dec 15, 2022

AI

A mixed-use property located at 880 Manhattan Avenue in the Greenpoint market has been sold for a price of $3,275,000. The property spans across 4,400 square feet, resulting in a price per square foot of $744. The buyer of the property was Peaki Capital, represented by Alex Rabin and David Gomez, while the seller was Dr. Mohammed Kahn. The transaction was facilitated by Exodus Capital, with Justin Conway, Haley Hasho, and Simba Conway serving as the brokers.

Summary of transaction details:

  • Property Type: Mixed-Use
  • Transaction Amount: $3,275,000
  • Square Footage: 4,400
  • Price per Square Foot: $744
  • Address: 880 Manhattan Avenue
  • Market: Greenpoint

Peaki Capital, a company specializing in value-add multi & mixed-use properties, actively seeks new acquisition opportunities in prime neighborhoods of Western Queens, Brooklyn, and Manhattan. For any inquiries regarding potential acquisitions, interested parties can contact Alex Rabin at [email protected].

Players

Haley Hasho

Exodus Capital

Broker

$378.2M

vol

47 deals

Broker
David Gomez

David Gomez

Buyer

$402.3M

vol

71 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

4.84%

Cash-on-Cash

-1.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93