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1636 East 14th Street, Broo...

Industrie Capital Partners And HH Equities Acquire Medical Office In Midwood For $3.8M
SOLDOffice

Industrie Capital Partners And HH Equities Acquire Medical Office In Midwood For $3.8M

1636 East 14th Street, Brooklyn, NY, USA

$3,800,000

$273/SF

Building Size

13,920 SF

Asset Type

Office

Closing

Oct 22, 2021

AI

A medical office located at 1636 East 14th Street in Midwood has been sold for $3,800,000. The property spans 13,920 square feet, resulting in a price per square foot of $272. The sale took place off-market, and the previous sale price was $4,800,000 in September 2016.

Summary of transation details

  • Property Type: Medical Office
  • Transaction Amount: $3,800,000
  • Address: 1636 East 14th Street
  • Market: Midwood
  • Square Footage: 13,920
  • Price per Square Foot: $272

The buyer of the medical office is Industrie Capital Partners represented by Joseph Hamway, and HH Equities represented by Ariel Akkad. The seller of the property is Soon Lee. The transaction was facilitated by Ceasar Salama and Marc Smouha from Kassin Sabbagh Realty.

Note: This transaction was not publicly marketed, indicating an off-market deal.

For more information, please contact Ceasar Salama directly:
👤Ceasar Salama
📧 [email protected]

Players

Ceasar Salama

Kassin Sabbagh Realty

Broker

$383.1M

vol

32 deals

Broker

Soon Lee

Seller

$12.5M

vol

3 deals

Seller

New York 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