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
About this deal
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.
On the Map
$9,750,000
$440/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
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93