Commercial Acquisitions Presents Gravesend, Brooklyn School Sale At 333 Avenue X For $7.25M
SOLD
$7,250,000
New York
See Similar DealsSchool24,000 SF
Sold 09/19/2023
SOLD
Commercial Acquisitions Presents Gravesend, Brooklyn School Sale At 333 Avenue X For $7.25M
333 Avenue X
See Similar DealsSchool24,000 SF
Sold 09/19/2023
Summary
NEW YORK
Asset Type:School
Price Per Square Foot:$302
Total Square Footage:24,000 SF
Transaction Type:Sale
A school located at 333 Avenue X in Gravesend, Brooklyn has been sold for $7,250,000. The property spans 24,000 square feet, resulting in a price per square foot of $302.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $7,250,000
- Address: 333 Avenue X, Gravesend, Brooklyn
- Market: Gravesend, Brooklyn
- Seller: David Weinberger
- Broker: Arsen Atbashyan - Commercial Acquisitions
Arsen Atbashyan, representing Commercial Acquisitions, facilitated the sale of the school property. The transaction was completed on 19th September 2023.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,757.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,368.70
Annual Debt Service$412,424.39
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