SOLDOther
Prakashkamur G. Patel Acquires Hotel In East Williamsburg For $9M
19 Bogart St, Brooklyn, NY 11206, USA
$9,000,000
$27/SF
Building Size
329,960 SF
Asset Type
Other
Closing
Nov 18, 2019
About this deal
AI
The hotel located at 19 Bogart Street in East Williamsburg has been sold in a closed transaction. The property spans a total square footage of 32,996, with a price of $9,000,000 and a price per square foot of $273.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $9,000,000
- Square Footage: 32,996
- Price per Square Foot: $273
- Address: 19 Bogart Street
- Market: East Williamsburg
The buyer of the hotel is Prakashkamur G. Patel, while the seller is Wing Fung Chau.
Players
New York Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93