Arthur Vayner Acquires Office Building In Midwood For $9.75M
1202 Kings Hwy, Brooklyn, NY 11229, USA
$9,750,000
$440/SF
Building Size
22,160 SF
Asset Type
Office
Closing
Jun 17, 2019
AI
The office property located at 1202 Kings Highway / 1717 East 12th Street in Midwood has been sold for a total of $9,750,000. This property spans over 22,160 square feet, resulting in a price per square foot of $439. The transaction involved the sale of the property from seller Yury Gnisin to buyer Arthur Vayner.
Summary of Transaction Details
- Property Type: Office
- Sale Price: $9,750,000
- Square Footage: 22,160
- Price Per Square Foot: $439
- Address: 1202 Kings Highway / 1717 East 12th Street
- Market: Midwood
The deal was facilitated by broker Rich Velotta. Additionally, the financing for this transaction was provided by Meridian Capital Group’s Justin Boruchov.
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
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93