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1636 E 14 St, Brooklyn, New...

Nathan Accad Acquires Office In Midwood, Brooklyn From Soon Lee For $3.8M
SOLDOffice

Nathan Accad Acquires Office In Midwood, Brooklyn From Soon Lee For $3.8M

1636 E 14 St, Brooklyn, New York 11229, United States

$3,800,000

$273/SF

Building Size

13,920 SF

Asset Type

Office

Closing

Oct 21, 2021

AI

The property involved in this transaction is an office located at 1636 East 14 Street in the Midwood neighborhood of Brooklyn. It has a lot size of 8,000 square feet and is zoned as R5B. The building has a total square footage of 13,920 and a building square footage (BSF) of 10,800. The price of the property was $3,800,000, resulting in a price per building square footage (PPSF) of $352 and a price per square foot (PPSF) of $273. The property has a floor area ratio (FAR) of 1.74 and tax class 4. The last recorded sale of the property was on September 22, 2016, for $4,800,000. The lot dimensions are 80 feet by 100 feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,800,000
  • Address: 1636 East 14 Street, Midwood, Brooklyn
  • Market: Midwood, Brooklyn
  • Zoning: R5B
  • Lot Size: 8,000 square feet
  • Building Square Footage (BSF): 10,800
  • Price per Building Square Footage (PPSF): $352
  • Total Square Footage: 13,920
  • Price per Square Foot (PPSF): $273
  • Floor Area Ratio (FAR): 1.74
  • Tax Class: 4
  • Last Sale Price: $4,800,000 (September 22, 2016)
  • Lot Dimensions: 80 ft x 100 ft

The buyer of the property is Nathan Accad, and the seller is Soon Lee.

Players

Soon Lee

Seller

$12.5M

vol

3 deals

Seller

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

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93