Reggie Kronstadt Acquires Mixed-Use Property In Turtle Bay For $9M
SOLD
$9,000,000
New York
See Similar DealsMixed-use6,324 SF
Sold 10/29/2021
SOLD
Reggie Kronstadt Acquires Mixed-Use Property In Turtle Bay For $9M
932 2nd Avenue, New York, NY, USA
See Similar DealsMixed-use6,324 SF
Sold 10/29/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,423
Total Square Footage:6,324 SF
Transaction Type:Sale
Located at 932 2 Avenue in Turtle Bay, this mixed-use property was recently sold on October 29, 2021. The property spans approximately 6,324 square feet and boasts a price per square foot of $1,423. The transaction price totaled $9,000,000, with a building square footage of 19,400 and a price per building square foot of $463.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $9,000,000
- Address: 932 2 Avenue
- Market: Turtle Bay
Reggie Kronstadt acquired the property from Thomas Ryan in this transaction. The buyer and seller were represented by their respective brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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