L3 Capital Acquires Williamsburg Retail Property For $20M
127 Kent Avenue, Brooklyn, New York 11249, United States
$20,000,000
$4,000/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
Mar 8, 2022
About this deal
AI
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.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93