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498 President Street

Cushman & Wakefield Brokers Sale Of Retail Asset At 498 President Street For $4.2M
SOLDRetail

Cushman & Wakefield Brokers Sale Of Retail Asset At 498 President Street For $4.2M

498 President Street

$4,200,000

$1,050/SF

Building Size

4,000 SF

Asset Type

Retail

Closing

Jul 11, 2024

AI

The property asset involved in this transaction is a retail space located at 498 President Street in Gowanus, Brooklyn. The sale price for this asset was $4,200,000. The square footage of the property measures 4,000, with a price per square foot of $1,050.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $4,200,000
  • Address: 498 President Street
  • Market: Gowanus, Brooklyn
  • Square Footage: 4,000
  • Price Per Square Foot: $1,050

The transaction was brokered by Bryan Hurley, Michael Decheser, Jonathan Squires, and Dylan Walsh, representing Cushman & Wakefield in the deal.

Players

Bryan Hurley

Cushman & Wakefield

Broker

$428.3M

vol

42 deals

Broker

Brooklyn 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

3.78%

Cash-on-Cash

-1.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93