Eric Gray's Millhouse Properties Acquires Retail Property In Cobble Hill, Brooklyn For $3.65M
288 Court St, Brooklyn, NY 11231, USA
$3,650,000
$811/SF
Building Size
4,500 SF
Asset Type
Retail
Closing
Nov 28, 2020
About this deal
AI
The retail property located at 288 Court Street in Cobble Hill, Brooklyn has been involved in a closed transaction. The property spans across 4,500 square feet and is owned by Eric Gray of Millhouse Properties. The tenant occupying the space is Union Market. The loan amount for this transaction was $3,650,000 and the lender involved was TD Bank.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $3,650,000
- Address: 288 Court Street, Cobble Hill, Brooklyn
- Square Footage: 4,500
- Tenant: Union Market
- Lender: TD Bank
- Landlord: Eric Gray – Millhouse Properties
The deal was facilitated by David Oheb of Team Oheb at Meridian Capital Group, representing Eric Gray as the landlord.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.35%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93