The Shao Organization Acquires Bensonhurst Property For $7.4M With TerraCRG As Brokers
8222 18th Ave, Brooklyn, NY 11214, USA
$7,400,000
$49/SF
Building Size
150,840 SF
Asset Type
Other
Closing
Dec 9, 2019
AI
The property located at 8222 18th Avenue in Bensonhurst has been sold in a closed transaction. The sale price for this property was $7,400,000. The total square footage of the property is 15,084 square feet. The transaction took place on 12/10/2019.
Summary of transaction details
- Property Type: Not specified
- Transaction Amount: $7,400,000
- Address: 8222 18th Avenue
- Market: Bensonhurst
The seller of the property was the Estate of Ruth Simon. The buyer of the property was The Shao Organization, represented by Lian Wu Shao and William Shao. The deal was facilitated by TerraCRG, with Dan Marks, Daniel Lebor, and Adam Tannenbaum serving as brokers.
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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93