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245 86th Street

Updated Nov 4, 2023

Rosanna Rizzo Acquires Two Office Buildings In Bay Ridge, Brooklyn For $3.4M
SOLDOffice

Rosanna Rizzo Acquires Two Office Buildings In Bay Ridge, Brooklyn For $3.4M

245 86th Street & 247 86th Street

$3,400,000

$236/SF

Building Size

7,200 SF

Asset Type

Office

Closing

Aug 30, 2023

About this deal

AI

Rosanna Rizzo, operating through the entity 245-247 86 Street Estates, LLC, acquired two office buildings located at 245 and 247 86th Street in Bay Ridge, Brooklyn. The properties were sold by Katerina Nikiforou Papadakis and her entity 86 Street Estates, LLC, for a total purchase price of $3.4 million. The office buildings have a combined square footage of 7,200, resulting in a price per square foot of $472.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $3,400,000
  • Address: 245 86th Street & 247 86th Street
  • Market: Bay Ridge, Brooklyn
  • Buyer: Rosanna Rizzo
  • Seller: Katerina Nikiforou Papadakis
  • Square Footage: 7,200
  • Price per Square Foot: $472

Rosanna Rizzo, representing 245-247 86 Street Estates, LLC, successfully acquired two office buildings in Bay Ridge, Brooklyn. The transaction was finalized with Katerina Nikiforou Papadakis and her entity, 86 Street Estates, LLC, selling the properties for $3.4 million. This deal marks a strategic investment for Rizzo, expanding her real estate portfolio in the Bay Ridge market.

Players

Brooklyn Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $236 per square foot on a published $3.4M for 14,400 square feet (2023).

Browse Brooklyn office sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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