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
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