Atlas Realty Group Acquires Note From Axos Bank In Brooklyn For $2.3M
SOLD
$2,300,000
New York
See Similar DealsNote / Loan3,150 SF
Sold
SOLD
Atlas Realty Group Acquires Note From Axos Bank In Brooklyn For $2.3M
294 Powers Street
See Similar DealsNote / Loan3,150 SF
Sold
Summary
NEW YORK
Asset Type:Note / Loan
Price Per Square Foot:$730
Total Square Footage:3150 SF
Transaction Type:Sale
The asset involved in this transaction is a note/loan located at 294 Powers Street in Brooklyn, with a sale price of $2,300,000. The property measures 3,150 square feet, resulting in a price per square foot of $730.
Summary of transation details:
- Property Type: Note / Loan
- Transaction Amount: $2,300,000
- Address: 294 Powers Street
- Market: Brooklyn
- Square Footage: 3,150
- Price Per Square Foot: $730
- Buyer: Atlas Realty Group (ARG)
- Seller: Axos Bank
- Broker Representatives: Yosef Katz, Erik Yankelovich, & Shlomo Antebi - Atlas Realty Group
Atlas Realty Group, led by brokers Yosef Katz, Erik Yankelovich, and Shlomo Antebi, represented themselves in this transaction. Notably, ARG is seeking additional bank notes.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08
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