Churches United For Fair Housing Acquires Retail Property On Starr Street For $6.5M
SOLD
$6,500,000
New York
See Similar DealsRetail13,500 SF
Sold 01/26/2024
SOLD
Churches United For Fair Housing Acquires Retail Property On Starr Street For $6.5M
278 Starr Street
See Similar DealsRetail13,500 SF
Sold 01/26/2024
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$481
Total Square Footage:13,500 SF
Transaction Type:Sale
The retail property located at 278 Starr Street in Bushwick, Brooklyn has been sold for a total price of $6,500,000. Spanning across 13,500 square feet, the property was sold at a price per square foot of $481.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,500,000
- Square Footage: 13,500
- Price per Square Foot: $481
- Address: 278 Starr Street, Bushwick, Brooklyn
- Market: Bushwick, Brooklyn
The buyer of the property is Churches United For Fair Housing, while the seller is Solomon Schiff. The transaction was facilitated by brokers Harrison Balisky, Ben Carlos Thypin, and Stephen Smith of Quantierra.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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