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
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