Burke Leighton Group Acquires Office Building In Midwood For $2.1M
SOLD
$2,100,000
New York
See Similar DealsOffice3,800 SF
Sold 08/08/2022
SOLD
Burke Leighton Group Acquires Office Building In Midwood For $2.1M
1600 Avenue M, Brooklyn, New York 11230, United States
See Similar DealsOffice3,800 SF
Sold 08/08/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$552
Total Square Footage:3,800 SF
Transaction Type:Sale
The commercial office property located at 1600 Avenue M in Midwood, has been sold for $2,100,000. The property spans across 3,800 square feet, resulting in a price per square foot of $552. The transaction took place on August 8, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,100,000
- Address: 1600 Avenue M
- Market: Midwood
- Square Footage: 3,800
- Price per Square Foot: $552
The buyer in this transaction is Burke Leighton Group, represented by Samuel Matalon. The seller is Dime Community Bank.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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