Ethika Capital Acquires Williamsburg Retail & Garage Property For $32M
248 Bedford Avenue, Brooklyn, NY, USA
$32,000,000
$615/SF
Building Size
52,000 SF
Asset Type
Retail
Closing
Dec 22, 2020
About this deal
AI
The property involved in this transaction is a retail and garage asset located at 248 Bedford Avenue and 195 Berry Street in Williamsburg, Brooklyn. The property spans a total square footage of 52,000 and was sold for a price of $32,000,000, resulting in a price per square foot of $615. The transaction took place on 12/23/2020.
Summary of transaction details
- Property Type: Retail & Garage
- Transaction Amount: $32,000,000
- Address: 248 Bedford Avenue, 195 Berry Street, Williamsburg, Brooklyn
- Market: Williamsburg, Brooklyn
- Buyer: Ethika Capital - Abraham Bennun
- Seller: @SLGreen_Realty Corp
- Tenants: @HSBC, @DuaneReadeNYC & Quik Park
The buyer in this transaction was Ethika Capital, represented by Abraham Bennun. The seller was @SLGreen_Realty Corp. The broker involved in the deal was Dan Kaplan from CBRE. The property is currently occupied by tenants such as HSBC, Duane Reade NYC, and Quik Park.
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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93