Regal Ventures Acquires Retail Property At 112 Atlantic Avenue In Cobble Hill, Brooklyn For $8.9M
SOLD
New York
See Similar DealsRetail7,765 SF
Sold 11/29/2022
SOLD
Regal Ventures Acquires Retail Property At 112 Atlantic Avenue In Cobble Hill, Brooklyn For $8.9M
112 Atlantic Avenue
See Similar DealsRetail7,765 SF
Sold 11/29/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,149
Total Square Footage:7,765 SF
Transaction Type:Sale
Located at 112 Atlantic Avenue in Cobble Hill, Brooklyn, this retail property was recently sold in a closed transaction. The property spans 7,765 square feet, with a sale price of $8,925,000, resulting in a price per square foot of $1,149.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $8,925,000
In this deal, the buyer, Regal Ventures, was represented by Alex Smith and Sean Dainese. On the other hand, the seller, OTL Enterprises, was represented by Angelo Cosentini and Jeff Harmatz. The broker involved in the transaction was Matthew Marshall of Marshall Real Estate, LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$475,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,708.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,309.05
Annual Debt Service$507,708.64
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