Updated Dec 20, 2023
Muhammed Ali Acquires Commercial Property In Homecrest, Brooklyn For $5.45M
1702 East 16th Street, Brooklyn, New York 11229, United States
$5,450,000
$1,197/SF
Building Size
4,552 SF
Asset Type
Commercial
Closing
Jan 30, 2022
About this deal
AI
A commercial property located at 1702 East 16th Street in Homecrest, Brooklyn has been sold in a recent transaction. The property is zoned as R7A and has a lot size of 4,792 square feet. The transaction took place on January 31, 2022, and the buyer is Muhammed Ali, while the seller is Shin J. Yoo.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $5,450,000
- Address: 1702 East 16th Street, Homecrest, Brooklyn
- Market: Homecrest, Brooklyn
- Zoning: R7A
In addition to the buyer and seller, important details about the transaction include a building square footage (BSF) of 19,168. The price per building square foot (PPBSF) is $284. The total square footage of the property is 4,552, with a price per square foot (PPSF) of $1,197. The floor area ratio (FAR) is 0.95, and the tax class is 4.
Other information regarding the property includes permits for alterations issued on August 23, 2017, labeled as "Alteration 2." The lot dimensions are 100 feet by 47.92 feet.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
Loading comparables…
Deal FAQ
Visit Muhammed Ali to view all their deals.
Browse New York commercial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93