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JLL Brokers Sell Retail Property At 75 N. 7th St. In Williamsburg, Brooklyn For $24.1M

Property Image
SOLD
$24,100,000
Alex Geanakos
Ethan Stanton
+ 4

New York

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Retail21,150 SF
Sold 07/26/2022
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Property Image
SOLD

JLL Brokers Sell Retail Property At 75 N. 7th St. In Williamsburg, Brooklyn For $24.1M

75 North 7th Street

See Similar Deals
Retail21,150 SF
Sold 07/26/2022
Alex Geanakos
Ethan Stanton
+ 4
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,139
Total Square Footage:21,150 SF
Transaction Type:Sale

The retail property located at 75 N. 7th St. in Williamsburg, Brooklyn has been sold by Largo Investments. The sale price for this transaction was $24,100,000, and the property spans across 21,150 square feet. The price per square foot for this sale was $1,139.

Summary of transaction details

The deal was facilitated by the brokers Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, Alex Geonakos, and Connor McCullough from JLL. They represented the parties involved in the transaction, providing expertise and guidance throughout the process.

Players

Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER

Ethan Stanton
JLL
133 deals$6.1B volume(516) 790-7718
BROKER

Winfield Clifford
JLL
75 deals$2.6B volume(212) 376-5443
BROKER

Michael Mazzara
JLL
111 deals$3.9B volume(212) 376-5450
BROKER

Stephen Palmese
JLL
84 deals$3.3B volume(212) 376-1228
BROKER

Alex Geanakos
JLL
13 deals$148.3M volume
BROKER

Connor McCullough
JLL
11 deals$137.4M volume
BROKER

SELLER

Details

SOLD
IMAGE: POST SALE IMAGE: Brendan Maddigan, Ethan Stanton, Stephen Palmese, Michael Mazzara, Winfield Clifford, Alex Geonakos & Connor McCullough DATE: 07/26/2022 ADDRESS: 75 N. 7th St. MARKET: Williamsburg, Brooklyn ASSET TYPE: Retail SELLER: Largo Investments BROKERS: Brendan Maddigan (@BrendanMaddigan), Ethan Stanton, Stephen Palmese (@StephenPalmese), Michael Mazzara, Winfield Clifford, Alex Geonakos & Connor McCullough - JLL (@JLL) SALE PRICE: $24,100,000 SF: 21,150 ~ PPSF: $1,139

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,285,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$85,622.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$114,246.30
Annual Debt Service$1,370,955.54