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The Daniel Group Acquires Retail Property In Brownsville, Brooklyn For $2.9M

Property Image
SOLD
$2,915,000
Scott Plasky
+ 1

Laguna

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Retail9,864 SF
Sold 12/05/2022
the dealplayerscompscontact
Property Image
SOLD

The Daniel Group Acquires Retail Property In Brownsville, Brooklyn For $2.9M

455 Dumont

See Similar Deals
Retail9,864 SF
Sold 12/05/2022
Scott Plasky
+ 1
Contact now

Summary

Asset Type:Retail
Price Per Square Foot:$295
Total Square Footage:9,864 SF
Transaction Type:Sale

Located at 455 Dumont in the Brownsville neighborhood of Brooklyn, this retail property has been sold in a recent transaction. The property spans 9,864 square feet and is composed of two tenants. The anchor tenant is Family Dollar, providing a stable source of income for the property. The transaction took place on 12/05/2022 and the sale price was $2,915,000. The price per square foot comes out to be $296.

Summary of transation details

The buyer in this transaction was The Daniel Group, represented by Daniel Cohen. On the other side, the seller was Karen Snyder. The deal was facilitated by the brokers Scott Plasky and Alex Arustamian from Marcus & Millichap. Their expertise in the market helped both parties achieve a successful transaction.

Players

Scott Plasky
78 deals$406.4M volume(212) 430-5229
BROKER

Alexander (Alex) Arustamian
Marcus & Millichap
24 deals$116M volume(212) 430-5276
BROKER


2 deals$5.8M volume
SELLER

Details

SOLD
IMAGE: Scott Plasky & Alex Arustamian DATE: 12/05/2022 ADDRESS: 455 Dumont MARKET: Brownsville, Brooklyn ASSET TYPE: Retail BUYER: The Daniel Group - Daniel Cohen SELLER: Karen Snyder BROKERS: Scott Plasky (@PlaskyRetailGroup) & Alex Arustamian (@Alex_Arustamian) - Marcus & Millichap (@MarcusMillichap_NY) SALE PRICE: $2,915,000 SF: 9,864 ~ PPSF: $296 NOTE FROM BROKER: 9,864 SF two-tenant corner retail property anchored by Family Dollar. &Millichap

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

$155,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,356.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,818.59
Annual Debt Service$165,823.05