Arthur Vayner Acquires Retail Property At 1602 Kings Highway In Midwood For $12.85M
1602 Kings Highway
$12,850,000
$391/SF
Building Size
32,838 SF
Asset Type
Retail
Closing
Oct 8, 2024
About this deal
AI
The property asset involved in this transaction is a retail space located at 1602 Kings Highway in the Midwood market. The sale price for this asset amounts to $12,850,000, with a total square footage of 32,838, resulting in a price per square foot of $391.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,850,000
- Address: 1602 Kings Highway
- Market: Midwood
- Square Footage: 32,838
- Price Per Square Foot: $391
- Buyer: Arthur Vayner
- Brokers: Daniel O'Brien, Maurice Suede, Caroline Hodes - Newmark & Jonathan Lib - Marquis Real Estate
The key individuals involved in the transaction include Arthur Vayner as the buyer, with brokerage representation provided by Daniel O'Brien, Maurice Suede, and Caroline Hodes from Newmark, along with Jonathan Lib from Marquis Real Estate, representing the parties in the deal.
On the Map
$12,850,000
$391/SF
Retail
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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
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93