Wharton Properties Sells Retail Condo In Dyker Heights, Brooklyn To Brandon Hanna - Encore Real Estate Investment Services For $7.6M
6702 Fort Hamilton Parkway
$7,600,000
$634/SF
Building Size
11,981 SF
Asset Type
Retail
Closing
Nov 3, 2020
AI
Wharton Properties, led by Jeff and Joseph Sutton, recently sold a retail condo in Unit Dyker Heights, Brooklyn. The property, located at 6702 Ft Hamilton Parkway, was purchased by CVS Pharmacy for a total price of $7,600,000. The retail condo spans approximately 11,981 square feet, resulting in a price per square foot of $634.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $7,600,000
- Date: 11/03/2020
- Address: 6702 Ft Hamilton Parkway, Unit Dyker Heights, Brooklyn
- Seller: Wharton Properties - Jeff & Joseph Sutton
- Buyer: CVS Pharmacy
- Broker: Brandon Hanna - Encore Real Estate Investment Services
- Square Footage: 11,981
- Price per Square Foot: $634
Brandon Hanna from Encore Real Estate Investment Services represented Wharton Properties in the transaction. This sale marks another successful deal for both Wharton Properties and CVS Pharmacy in the retail market.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93