Wharton Properties Acquires Gravesend Retail Property From @HSBC For $3.2M
481 Kings Hwy, Brooklyn, NY 11223, USA
$3,218,200
$470/SF
Building Size
6,838 SF
Asset Type
Retail
Closing
Dec 1, 2020
About this deal
AI
The property at 481 Kings Highway in Gravesend was recently sold in a transaction involving Joseph Sutton and Jeff Sutton. The retail asset, with a zoning of R6A and C2-4, was sold for a price of $3,218,200. The building has a total square footage of 26,640, resulting in a price per square foot of $120. The property itself spans 6,838 square feet, with a price per square foot of $470.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $3,218,200
- Address: 481 Kings Highway, Gravesend
- Market: Gravesend
- Zoning: R6A, C2-4
- Square Footage: 26,640
- Price per Square Foot: $120
The buyer in this transaction was Wharton Properties, while the seller was identified as @HSBC.
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
4.93%
Cash-on-Cash
-1.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93