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Sandy Stillman Acquires Mixed-Use Buildings In Red Hook From Lee Cohen For $7.05M
SOLD
$7,050,000
New York
See Similar DealsMixed-use
Sold 09/03/2025
SOLD
Sandy Stillman Acquires Mixed-Use Buildings In Red Hook From Lee Cohen For $7.05M
93 Verona Street & 385 Van Brunt Street
See Similar DealsMixed-use
Sold 09/03/2025
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
The transaction involves a mixed-use property located at 93 Verona Street & 385 Van Brunt Street in the Red Hook area of Brooklyn. The buyer, Sandy Stillman, has acquired the asset for a total price of $7,050,000. This deal consists of three buildings purchased from RedHoek Partners.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,050,000
- Buyer: Sandy Stillman
- Seller: Lee Cohen - RedHoek Partners
- Transaction Date: 09/03/2025
This transaction saw Sandy Stillman making a significant investment in Red Hook, with Lee Cohen representing RedHoek Partners in the sale of the properties across two deals. The deal represents an important shift in property ownership in the Brooklyn area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$376,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,047.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,420.60
Annual Debt Service$401,047.16
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