Special Childrens Center Acquires Retail Property In Gravesend For $6.9M
2990 Avenue U, Brooklyn, New York 11229, United States
$6,900,000
$345/SF
Building Size
20,000 SF
Asset Type
Retail
Closing
May 31, 2022
About this deal
AI
A retail property located at 2990 Avenue U in the Gravesend market has been sold for a total of $6,900,000. The property spans 20,000 square feet, resulting in a price per square foot of $345. The transaction took place on 06/01/2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $6,900,000
- Address: 2990 Avenue U
- Market: Gravesend
- Square Footage: 20,000
- Price per Square Foot: $345
The buyer in this transaction is the Special Childrens Center, while the seller is Michael Reinhart. Acting as the broker for the deal is Josh Augenbaum from Augenbaum Realty Corp.
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
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93