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11 Herkimer Place, Brooklyn...

Sterling Town Equities Sells Office Property In Bedford-Stuyvesant, Brooklyn For $3.1M
SOLDOffice

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

Jonathan Berman

Ariel Property Advisors

Broker

$12.7M

vol

6 deals

Broker

Yossi Ariel

Sterling Town Equities

Seller

$29.1M

vol

2 deals

Seller

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