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926 Remsen Avenue, Brooklyn...

Agostino Vona Acquires Canarsie Office Building For $8M
SOLDOffice

Agostino Vona Acquires Canarsie Office Building For $8M

926 Remsen Avenue, Brooklyn, New York 11236, United States

$8,000,000

$364/SF

Building Size

21,931 SF

Asset Type

Office

Closing

Oct 7, 2021

AI

The property located at 926 & 940 Remsen Ave in Canarsie was recently sold in a closed transaction. The office building, with a total square footage of 21,931, was sold for a price of $8,000,000. The building has a building square footage of 56,133, translating to a price per building square footage of $142. The price per square footage of the property stands at $364. The property is zoned as M1-1 and falls under tax class 4. The lot size is 2,643, with dimensions of 29.6 ft x 100 ft. The building was constructed under a permit for a new building on June 13, 1997.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $8,000,000
  • Market: Canarsie
  • Zoning: M1-1
  • Square Footage: 21,931
  • Price per Square Foot: $364
  • Building Square Footage: 56,133
  • Price per Building Square Footage: $142
  • Tax Class: 4
  • Lot Size: 2,643
  • Permits: New Building (06/13/1997)
  • Lot Dimension: 29.6 ft x 100 ft

The buyer of the property is Agostino Vona, and the seller is Carmine Abruzzo. They engaged in the transaction of this office property, representing their respective interests. Agostino Vona acted as the buyer's representative, while Carmine Abruzzo acted as the seller's representative.

Players

Agostino Vona

Vona Capital Group

Broker

$68.3M

vol

5 deals

Broker

Agostino Vona

Buyer

$68.3M

vol

5 deals

Buyer

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

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93