Joe Wasser Acquires Mixed-Use Property In Brooklyn From The Berman Family
9617 Church Avenue, Brooklyn, NY 11212
$925,000
$185/SF
Building Size
5,000 SF
Asset Type
Mixed-use
Closing
Dec 18, 2018
About this deal
AI
The mixed-use property located at 9617 Church Avenue in Brooklyn has been sold. The sale was finalized on December 19, 2018. The property, which spans 5,000 square feet, consists of 4 units. The sale price for the property was $925,000, resulting in a price per square foot of $185. The transaction had a cap rate of 6%.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $925,000
- Address: 9617 Church Avenue, Brooklyn
- Market: Brooklyn
- Square Footage: 5,000
- Units: 4
- Cap Rate: 6%
The buyer of the property was Joe Wasser, and the seller was the Berman family. The deal was facilitated by Marcel Fridman of the Barcel Group, who represented both parties in the transaction.
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
17.15%
Cash-on-Cash
-4.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93