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93 Verona Street

Sandy Stillman Acquires Mixed-Use Buildings In Red Hook From Lee Cohen For $7.05M
SOLDMixed-use

Sandy Stillman Acquires Mixed-Use Buildings In Red Hook From Lee Cohen For $7.05M

93 Verona Street & 385 Van Brunt Street

$7,050,000

Building Size

Asset Type

Mixed-use

Closing

Sep 3, 2025

AI

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.

Players

Lee Cohen

RedHoek Partners

Seller

$299M

vol

25 deals

Seller
RedHoek Partners
RedHoek PartnersSeller

Brooklyn 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

2.25%

Cash-on-Cash

-0.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93