Michael Gendin Purchases Mixed-Use Property From The Hershkowitz Family For $4.05M In Brooklyn
11 5th Street & 13 5th Street
$4,050,000
$150/SF
Building Size
26,914 SF
Asset Type
Mixed-use
Closing
Nov 19, 2024
AI
A mixed-use asset located at 11 5th Street & 13 5th Street in Brooklyn has been sold for $4,050,000. The property encompasses a total square footage of 13,457, translating to a price per square foot of $300.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,050,000
- Buyer: Michael Gendin
- Seller: The Hershkowitz Family
- Brokers: Lev Mavashev & Eli Yusupov - Alpha Realty
The transaction involved key representatives from Alpha Realty, with Lev Mavashev and Eli Yusupov acting as brokers in the deal. Their involvement highlights the professional representation in facilitating this property transaction.
Players
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
3.92%
Cash-on-Cash
-1.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93