Sterling Town Equities Sells Office Property In Bedford-Stuyvesant, Brooklyn For $3.1M
11 Herkimer Place, Brooklyn, New York 11216, United States
$3,100,000
$405/SF
Building Size
7,638 SF
Asset Type
Office
Closing
Apr 24, 2022
AI
11 Herkimer Place, a 7,638 square foot office property located in Bedford-Stuyvesant, Brooklyn, was recently sold for $3,100,000. The sale was facilitated by Dov Chein, Jonathan Berman, and Sean R. Kelly Esq. from Ariel Property Advisors on behalf of Sterling Town Equities.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,100,000
- Address: 11 Herkimer Place, Bedford-Stuyvesant, Brooklyn
- Market: Bedford-Stuyvesant, Brooklyn
Yossi Ariel represented Sterling Town Equities in the deal. Dov Chein, Jonathan Berman, and Sean R. Kelly Esq. served as the brokers from Ariel Property Advisors.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93