Arthur Vayner Acquires Office Building In Midwood For $9.75M
SOLD
$9,750,000
New York
See Similar DealsOffice22,160 SF
Sold 06/18/2019
SOLD
Arthur Vayner Acquires Office Building In Midwood For $9.75M
1202 Kings Hwy, Brooklyn, NY 11229, USA
See Similar DealsOffice22,160 SF
Sold 06/18/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$440
Total Square Footage:22,160 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$520,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,639.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,219.97
Annual Debt Service$554,639.69
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