Allen Gross & Jeff And Joseph Sutton Acquires Commercial Building In Brooklyn For $14.6M
2250 Nostrand Ave, Brooklyn, Ny 11210, Usa
$14,600,000
$78/SF
Building Size
186,890 SF
Asset Type
Other
Closing
Mar 20, 2018
AI
The commercial building located at 2250 Nostrand Avenue in Brooklyn, New York has been sold in a closed property transaction. The property spans over 18,689 square feet and was sold at a price of $14,600,000. With a price per square foot of $781, this building offers a valuable investment opportunity in the Brooklyn market.
Summary of transaction details
- Property Type: Commercial Building
- Transaction Amount: $14,600,000
- Size: 18,689 square feet
- Price Per Square Foot: $781
- Address: 2250 Nostrand Avenue, Brooklyn, New York
- Market: Brooklyn
The seller of the property was GFI Capital Resources, represented by Allen Gross. On the other hand, the buyers were Jeff and Joseph Sutton. It is worth noting that the property also holds an additional 16,383 square feet of air rights for commercial use, providing further potential for the investors.
Players
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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93