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Moshe Mann Acquires Office Condo From Joel Schwartz For $4 Million In Bedford Stuyvesant Brooklyn
SOLD
$4,000,000
New York
See Similar DealsOffice1,345 SF
Sold 04/28/2025
SOLD
Moshe Mann Acquires Office Condo From Joel Schwartz For $4 Million In Bedford Stuyvesant Brooklyn
31 Spencer Street
See Similar DealsOffice1,345 SF
Sold 04/28/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$2,974
Total Square Footage:1,345 SF
Transaction Type:Sale
An office condo located at 31 Spencer Street in Bedford Stuyvesant, Brooklyn, has been sold for $4,000,000. The asset spans 1,345 square feet, resulting in a price per square foot of approximately $2,973.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,000,000
- Buyer: Moshe Mann
- Seller: Joel Schwartz
- Sale Date: April 28, 2025
- Market: Bedford Stuyvesant, Brooklyn
- Square Footage: 1,345
- Price per Square Foot: $2,973
Moshe Mann’s company, Mm Spencer Holdings, was the buyer of the condo, while Joel Schwartz was the seller involved in this transaction. The sale was finalized on April 28, 2025, marking the completion of this real estate deal in the Brooklyn market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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