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
About this deal
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]
On the Map
$3,800,000
$273/SF
Office
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Players
Brooklyn Office Market Snapshot
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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