Nick Valentino Acquires 3 Residential Units Over Commercial Space In Brooklyn For $3.3M
299 Pacific St, Brooklyn, NY 11201, USA
$3,300,000
$48/SF
Building Size
67,500 SF
Asset Type
Other
Closing
Feb 26, 2018
AI
Located at 299 Pacific Street in Brooklyn, New York, this property consists of three residential units over commercial space. Spanning across 6,750 square feet, the property was recently sold for $3,300,000, equating to a price per square foot of $488. The transaction was facilitated by Stephen Palmese and Michael Mazzara of Cushman & Wakefield, representing the buyer, Nick Valentino, in this deal.
Summary of Transaction Details
- Property Type: 3 Residential Units over Commercial Space
- Transaction Amount: $3,300,000
- Square Footage: 6,750
- Price per Square Foot: $488
- Seller: The Sterling School
- Buyer: Nick Valentino
- Broker: Stephen Palmese & Michael Mazzara of Cushman & Wakefield
The buyer, Nick Valentino, acquired this property with the assistance of Stephen Palmese and Michael Mazzara from Cushman & Wakefield. With this transaction, Valentino has secured three residential units and commercial space in the bustling market of Brooklyn.
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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93