Marcus & Millichap Brokers Sell Retail Property On Manhattan Avenue, Greenpoint, Brooklyn For $2.125M
603 Manhattan Avenue, Greenpoint, Brooklyn, NY, USA
$2,125,000
$914/SF
Building Size
2,325 SF
Asset Type
Retail
Closing
Oct 9, 2021
About this deal
AI
The retail property located at 603 Manhattan Avenue in Greenpoint, Brooklyn has been sold for a price of $2,125,000. The sale took place on October 9, 2021. The property spans 2,325 square feet and has a price per square foot of $913. The seller of the property was the Sikorski Family.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,125,000
- Address: 603 Manhattan Avenue
- Market: Greenpoint, Brooklyn
- Square Footage: 2,325
- Price per Square Foot: $913
The sale was facilitated by the brokers Shaun Riney, Mike Salvatico, and Sam Leppo from Marcus & Millichap. The purchaser plans to upgrade and utilize the existing structure.
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
7.46%
Cash-on-Cash
-2.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93