Kokomo NYC Acquires 65 Kent Avenue Mixed-use Building For $5.5 Million In Brooklyn
65 Kent Avenue
$5,500,000
$1,264/SF
Building Size
4,350 SF
Asset Type
Mixed-use
Closing
Feb 24, 2025
AI
65 Kent Avenue is a mixed-use property located in Brooklyn, Williamsburg, with a sale price of $5,500,000. The asset encompasses 4,350 square feet, resulting in a price per square foot of $1,264.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,500,000
- Buyer: Kokomo NYC
- Seller: Joseph Lehmann & Stephen Gorodetsky - Brooklyn Metro Holdings
- Brokers: DJ Johnston, Bryan Kirk & Brian Brady - Matthews Real Estate Investment Services
- Sale Date: 02/24/2025
- Location: 65 Kent Avenue, Brooklyn
- Acquisition Loan: $5,000,000 (90% LTV) via SBA 504 program
- Cap Rate: 5.8%
DJ Johnston, Bryan Kirk, and Brian Brady from Matthews Real Estate Investment Services facilitated the successful closing of the acquisition financing. They utilized market competition and in-house expertise to secure a favorable outcome for both the seller and buyer, highlighting their role in the strategic execution of this transaction.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93