Michael Emory & Cecilia Williams Of Allied Properties Acquire Office Building In Bay Ridge, Brooklyn For $15.6M
9201 4th Avenue
$15,560,100
Building Size
—
Asset Type
Office
Closing
Sep 15, 2023
About this deal
AI
An office building located at 9201 4th Avenue in Bay Ridge, Brooklyn has been sold in a closed transaction. The property was purchased by Michael Emory & Cecilia Williams, represented by Allied Properties, for a total of $15,560,100. The previous owner, Demetrios Spiropoulos, sold the building to Tim Ziss's Allied Properties, operating through 9201 LLC.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,560,100
- Address: 9201 4th Avenue, Bay Ridge, Brooklyn
This transaction took place after the former owner, Demetrios Spiropoulos of SPL Partners LLC, filed for bankruptcy in order to avoid foreclosure. The acquisition was executed by Allied Properties, represented by Michael Emory & Cecilia Williams.
On the Map
$15,560,100
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93