Burke Leighton Group Acquires Office Building In Midwood For $2.1M
1600 Avenue M, Brooklyn, New York 11230, United States
$2,100,000
$552/SF
Building Size
3,800 SF
Asset Type
Office
Closing
Aug 7, 2022
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93