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
About this deal
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.
On the Map
$3,100,000
$405/SF
Office
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Players
Brooklyn 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