Updated Nov 24, 2023
Shahid Mughal Acquires Commercial Real Estate In Brighton Beach For $4M
231 Neptune Avenue, Brooklyn, New York 11235, United States
$4,000,000
$571,428/SF
Building Size
7 SF
Asset Type
Commercial
Closing
Nov 29, 2022
About this deal
AI
The commercial real estate property located at 231 Neptune Avenue in Brighton Beach, Brooklyn has been sold. The transaction took place on November 29, 2022. The property is zoned as R6 and OP.
Summary of transaction details
- Property Type: Commercial Real Estate
- Transaction Amount: $4,000,000
- Market: Brighton Beach, Brooklyn
The buyer of the property is Shahid Mughal, while the sellers are Leonid Kapelushnik and Anna Kapelushnik.
The property has a building square footage (BSF) of 21,173, resulting in a price per BSF of $188. The total square footage of the property is 7,058, with a price per square foot (PPSF) of $566. The lot size is 8,713 square feet, and it has a FAR (Floor Area Ratio) of 0.18. The tax class of the property is 4.
Some additional details about the property include the permits for alteration 3, which were issued on February 25, 2008. The lot dimensions are 95.75 ft x 91 ft.
Players
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Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93