1121-1123 Avenue J

  • $10642857
1121 Avenue J, Brooklyn, NY, USA
Closed Deal Sold

1121-1123 Avenue J

1121 Avenue J, Brooklyn, NY, USA
  • $10642857

Overview

  • Units
  • Retail
  • Property Type
  • 7012

Description

SALE
IMAGE: Joseph Sutton & Jeff Sutton
DATE: 05/07/2021
ADDRESS: 1121-1123 Avenue J
MARKET: Midwood, Brooklyn
ASSET TYPE: Retail

BUYER: 🀐
SELLER: Wharton Properties
LENDER: Bankwell Bank
TENANT: @BankOfAmerica

SALE PRICE: $10,642,857
SF: 7,012 ~ PPSF: $1,517
LOAN AMOUNT: $7,450,000

LAST SALE PRICE: $5,300,000 (10/2017) πŸ“ˆ

NOTE: Bank of America signed a 20 year triple-net (NNN) lease (5/14/20-12/31/40) with Wharton Prop. – generating an annual NOI of $491,700, with escalations in years 4, 7, 11 & 16.

  • Address 1121 Avenue J, Brooklyn, NY, USA
  • City New York
  • State/county New York
  • Zip/Postal Code 11230
  • Area Midwood
  • Country United States

Details

Updated on May 24, 2021 at 12:34 pm
  • Price: $10,642,857
  • Property Size: 7012
  • Property Type: Retail
  • Property Status: Closed Deal, Sold

Additional details

  • Loan Amount: $7,450,000
  • Last Sale Price: $5,300,000 (10/2017) πŸ“ˆ
  • Note: Bank of America signed a 20 year triple-net (NNN) lease (5/14/20-12/31/40) with Wharton Prop. – generating an annual NOI of $491,700, with escalations in years 4, 7, 11 & 16.

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