Phillip Miller Acquires Retail Property In East Williamsburg For $2.6M
59 Graham Avenue, Brooklyn, NY 11206
$2,600,000
$433/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
Jan 16, 2019
AI
The retail property located at 59 Graham Avenue in East Williamsburg has been sold. The property, measuring 6,000 square feet, was delivered vacant and in shell condition.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $2,600,000
- Market: East Williamsburg
- Date: 01/17/2019
- Address: 59 Graham Avenue
- Seller: The Gitlitz Family
- Buyer: Phillip Miller
- Brokers: Mike Salvatico & Shaun Riney - Marcus & Millichap
The property was sold for $2,600,000, with a price per square foot of $433. The transaction was facilitated by brokers Mike Salvatico and Shaun Riney from Marcus & Millichap.
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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93