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2nd Ave, New York, NY, USA

Updated Dec 18, 2023

Maya Shrief Acquires Retail Building On Second Avenue In Sunset Park, Brooklyn For $1M
SOLDDevelopment Site

Maya Shrief Acquires Retail Building On Second Avenue In Sunset Park, Brooklyn For $1M

2nd Ave, New York, NY, USA

$1,000,000

$757/SF

Building Size

1,320 SF

Asset Type

Development Site

Closing

Aug 24, 2020

About this deal

AI

A retail building with future redevelopment potential located at 5421 Second Avenue in Sunset Park, Brooklyn has been sold in a closed transaction. The property was purchased by Maya Shrief for a sale price of $1,000,000. The building has a total square footage of 1,320, resulting in a price per square foot of $757. The asking price was $1,100,000, and the building's floor area ratio (BSF) is 6,000, equating to a price per buildable square foot (PPBSF) of $166. The property is situated on a lot with a size of 20 feet, and it is zoned as R6A and C1-3.

Summary of transaction details

  • Property Type: Retail building with future redevelopment potential
  • Transaction Amount: $1,000,000
  • Address: 5421 Second Avenue, Sunset Park, Brooklyn
  • Market: Sunset Park, Brooklyn
  • BSF: 6,000
  • PPBSF: $166
  • SF: 1,320
  • PPSF: $757
  • Zoning: R6A, C1-3
  • Lot Size: 20 ft

The buyer, Maya Shrief, made the transaction with the seller, Tom Keeley. No additional information is available about the deal's key individuals or the companies involved in the transaction.

Players

Andrew Levine

Invictus Property Advisors

Broker

$454.4M

vol

68 deals

Broker

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $757 per square foot on a published $1M for 1,320 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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