L3 Capital Acquires Williamsburg Retail Property For $20M
SOLD
$20,000,000
New York
See Similar DealsRetail5,000 SF
Sold 03/09/2022
SOLD
L3 Capital Acquires Williamsburg Retail Property For $20M
127 Kent Avenue, Brooklyn, New York 11249, United States
See Similar DealsRetail5,000 SF
Sold 03/09/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$4,000
Total Square Footage:5,000 SF
Transaction Type:Sale
A retail property located at 127 Kent Avenue in Williamsburg was recently sold in a transaction. The property spans 5,000 square feet and was sold for a total price of $20,000,000, resulting in a per square foot price of $4,000. The sale took place on March 9, 2022. The buyer of the property was L3 Capital, while the seller was ASB Capital Management.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $20,000,000
- Square Footage: 5,000
- Per Square Foot Price: $4,000
The deal was facilitated by Domenic Lanni, Timothy Phair, Michael Stafford, and Spencer Smith. Domenic Lanni, Timothy Phair, Michael Stafford, and Spencer Smith served as representatives for L3 Capital in the transaction. No additional information was provided about the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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