Updated Dec 21, 2023
Simkho Aranbayev Acquires Commercial Property In East New York, Brooklyn For $15.8M
933 Wortman Avenue, Brooklyn, New York 11208, United States
$15,750,000
$377/SF
Building Size
41,775 SF
Asset Type
Commercial
Closing
Feb 14, 2022
About this deal
AI
The commercial property located at 933 Wortman Avenue and 965 Pennsylvania in East New York, Brooklyn has been sold in a transaction that closed on February 15, 2022. The property features a total building area of 106,251 square feet, with a price of $15,750,000, resulting in a price per square foot of $148. The lot size is 66,343 square feet, with dimensions of 170 feet by 390.25 feet. The property is zoned for both residential (R5) and commercial (C2-2) use.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $15,750,000
- BSF: 106,251 square feet
- PPBSF: $148
- SF: 41,775 square feet
- PPSF: $377
- Zoning: R5, C2-2
The buyer in this transaction is Simkho Aranbayev, while the seller is Greg Feldman. The property has a floor area ratio (FAR) of 0.52 and falls under tax class 4. An alteration permit was issued on January 24, 2022, indicating potential modifications to the property.
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
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93