Wharton Properties Acquires Gravesend Retail Property From @HSBC For $3.2M
SOLD
$3,218,200
New York
See Similar DealsRetail6,838 SF
Sold 12/02/2020
SOLD
Wharton Properties Acquires Gravesend Retail Property From @HSBC For $3.2M
481 Kings Hwy, Brooklyn, NY 11223, USA
See Similar DealsRetail6,838 SF
Sold 12/02/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$470
Total Square Footage:6,838 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$171,637.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,433.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,255.91
Annual Debt Service$183,070.92
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