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
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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