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Stanley Lormestil Acquires Commercial Property In Flatbush, Brooklyn For $5M

Property Image
SOLD
$5,000,000

New York

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Commercial4,422 SF
Sold 04/19/2022
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Property Image
SOLD

Stanley Lormestil Acquires Commercial Property In Flatbush, Brooklyn For $5M

1423 Nostrand Avenue, Brooklyn, New York 11226, United States

See Similar Deals
Commercial4,422 SF
Sold 04/19/2022
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Summary

NEW YORK
Asset Type:Commercial
Price Per Square Foot:$1,130
Total Square Footage:4,422 SF
Transaction Type:Sale

The commercial property located at 1423 Nostrand Avenue & 1421 Nostrand Avenue in Flatbush, Brooklyn was sold on April 19, 2022. The property has a total building square footage (BSF) of 6,600 and a price per BSF (PPBSF) of $757. The total square footage (SF) of the property is 4,422, with a price per square foot (PPSF) of $1,130. The property sits on a lot size of 2,100 square feet, with dimensions of 20 ft x 105 ft.

Summary of transation details

  • Property Type: Commercial
  • Transaction Amount: $5,000,000
  • Buyer: Stanley Lormestil
  • Seller: Anthony Marchese
  • Last Sale Price: $1,800,000 (6/19/2009)
  • Permits: Alteration 2 (10/13/2010)

The buyer of the property is Stanley Lormestil, while the seller is Anthony Marchese. The previous sale of the property took place on June 19, 2009, for a price of $1,800,000. Additionally, an alteration permit was issued for the property on October 13, 2010.

Players

2 deals$8.5M volume
SELLER

Details

SOLD
IMAGE: 04/19/2022 ADDRESS: 1423 Nostrand Avenue & 1421 Nostrand Avenue MARKET: Flatbush, Brooklyn ASSET TYPE: Commercial ~ ZONING: R6 BUYER: Stanley Lormestil SELLER: Anthony Marchese PRICE: $5,000,000 BSF: 6,600 ~ PPBSF: $757 SF: 4,422 ~ PPSF: $1,130 LOT SIZE: 2,100 LAST SALE PRICE: $1,800,000 (6/19/2009) PERMITS: Alteration 2 (10/13/2010) LOT DIMENSION: 20 ft x 105 ft

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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