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195 Johnson Avenue, Brookly...

Ink Property Group Acquires Church Of G-d Of Williamsburg Property In Brooklyn For $2.85M
SOLDOther

Ink Property Group Acquires Church Of G-d Of Williamsburg Property In Brooklyn For $2.85M

195 Johnson Avenue, Brooklyn, NY, USA

$2,850,000

$570/SF

Building Size

5,000 SF

Asset Type

Other

Closing

Dec 12, 2017

AI

The Church of G-d of Williamsburg has sold a church located at 195 Johnson Avenue in Brooklyn, New York. The property, spanning 5,000 square feet, was purchased by the Ink Property Group for a price of $2,850,000. The transaction resulted in a price per square foot of $570.

Summary of transaction details

  • Property Type: Church
  • Transaction Amount: $2,850,000
  • Address: 195 Johnson Avenue, New York, Brooklyn
  • Market: Brooklyn
  • Buyer: Ink Property Group; Eden Ashourzadeh, Alex Kahen
  • Seller: Church of G-d of Williamsburg
  • Broker: Highcap Group’s Daniel Hakimian
  • Size: 5,000 square feet
  • Price per Square Foot: $570

The transaction was facilitated by Highcap Group’s Daniel Hakimian, representing the Church of G-d of Williamsburg. Ink Property Group, led by Eden Ashourzadeh and Alex Kahen, acted as the buyer in the deal.

Players

Daniel Hakimian

HPNY

Broker

$15.9M

vol

5 deals

Broker

Alex Kahen

Ink Property Group

Buyer

$74.9M

vol

9 deals

Buyer

New York Other Market Snapshot

Boundary boundary · Other · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.57%

Cash-on-Cash

-1.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93