Acadia Realty Trust Acquires Retail Asset From M&V Provisions In Brooklyn For $35M
SOLD
$35,000,000
New York
See Similar DealsRetail11,180 SF
Sold 10/10/2024
SOLD
Acadia Realty Trust Acquires Retail Asset From M&V Provisions In Brooklyn For $35M
North 6th Street
See Similar DealsRetail11,180 SF
Sold 10/10/2024
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$3,130
Total Square Footage:11,180 SF
Transaction Type:Sale
A retail property located at 123-129 North 6th Street in Brooklyn was sold for $35,000,000. The asset spans 11,180 square feet, translating to a price per square foot of $3,130.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35,000,000
- Buyer: Acadia Realty Trust
- Seller: M&V Provisions
- Brokers: Ethan Stanton, Brendan Maddigan & Michael Mazzara - JLL
The transaction involved Acadia Realty Trust as the buyer and M&V Provisions as the seller, with representation from brokers Ethan Stanton, Brendan Maddigan, and Michael Mazzara of JLL, who facilitated the agreement between the parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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