Wayne J Riley Acquires Garage In Flatbush, Brooklyn For $20.2M
354 Clarkson Avenue, Brooklyn, NY, USA
$20,200,000
$229/SF
Building Size
88,000 SF
Asset Type
Other
Closing
Jun 15, 2021
About this deal
AI
The property involved in the transaction is a garage located at 354 Clarkson Avenue in Flatbush, Brooklyn. The property is zoned as R7A, C2-4. The transaction took place on June 16, 2021.
Summary of transaction details
- Property Type: Garage
- Transaction Amount: $20,200,000
- Address: 354 Clarkson Avenue
- Market: Flatbush, Brooklyn
- Zoning: R7A, C2-4
The buyer of the property is Wayne J Riley and the seller is Allen C Frankel. The transaction price for the garage was $20,200,000. The building's square footage is 88,000, resulting in a price per square foot of $229.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93