Dry Creek Capital Partners Sells Retail Condominium And Community Facility In Brooklyn For $16.5M
350 6th Avenue
$16,500,000
$1,000/SF
Building Size
16,500 SF
Asset Type
Retail
Closing
Jan 14, 2025
AI
The property involved in this transaction is a retail asset located at 350 6th Avenue in Brooklyn. It consists of a Ground Floor Retail Condominium space and a Second Floor Community Facility space. The sale price for this property was $16,500,000, encompassing a total square footage of 16,500, which translates to a price per square foot of $1,000.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $16,500,000
- Address: 350 6th Avenue
- Market: Brooklyn
- Square Footage: 16,500
- Price Per Square Foot: $1,000
- Seller: Dry Creek Capital Partners
- Broker: Matthew Marshall - Marshall Real Estate
The deal was facilitated by Matthew Marshall, representing the seller, Dry Creek Capital Partners. The transaction successfully included both the retail and community facility spaces within the property, reflecting a comprehensive approach to the asset's marketability.
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93