North Hill Capital Management Acquires Retail Property In Carroll Gardens For $2.6M
232 Smith Street Brooklyn, New York 11231, USA
$2,600,000
Building Size
—
Asset Type
Retail
Closing
Jul 31, 2023
About this deal
AI
The Carroll Gardens lot located at 232-240 Smith Street has been sold in a recent transaction. The property, classified as a retail asset, was purchased for a price of $2.6 million.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $2,600,000
- Address: 232-240 Smith Street
- Market: Carroll Gardens
Vlad Shneyder's North Hill Capital Management emerged as the winner of the auction for this property. They acquired it from Second Development Services, which was owned by Louis Greco. North Hill Capital Management foreclosed on the previous owner to secure the purchase.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93