Alexander Kostovetsk Acquires Marine Park Commercial Property From Peter A. Forman For $5.3M
2488 Flatbush Avenue, Brooklyn, New York 11234, United States
$5,300,000
$757/SF
Building Size
7,000 SF
Asset Type
Commercial
Closing
May 12, 2022
AI
A commercial property located at 2484-2488 Flatbush Avenue in Marine Park, Brooklyn has been sold for a total price of $5,300,000. The property has a total square footage of 7,000 and a price per square foot of $757. It is situated on a lot size of 7,000 and has a FAR of 1.00. The property is zoned as C8-1 and falls under tax class 4. A sign permit was issued for the property on June 29, 2017, and its lot dimensions measure 100 ft x 70 ft.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $5,300,000
- Market: Marine Park, Brooklyn
- Zoning: C8-1
- Square Footage: 7,000
- Price per Square Foot: $757
- Lot Size: 7,000
- FAR: 1.00
- Tax Class: 4
The buyer of the property is Alexander Kostovetsk, while the seller is Peter A. Forman.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93