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Balkar Singh Purchases Industrial Property From Ricardo Garced For $1.725M In East New York

Property Image
SOLD
$1,725,000
Steve Reynolds
Michael (Mike) Murphy
Derek Bestreich

New York

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Industrial7,109 SF
Sold 11/26/2024
the dealplayerscompscontact
Property Image
SOLD

Balkar Singh Purchases Industrial Property From Ricardo Garced For $1.725M In East New York

742 Liberty Avenue

See Similar Deals
Industrial7,109 SF
Sold 11/26/2024
Steve Reynolds
Michael (Mike) Murphy
Derek Bestreich
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$242
Total Square Footage:7,109 SF
Transaction Type:Sale

The industrial property located at 742 Liberty Avenue in East New York, Brooklyn, has been sold for $1,725,000. The asset encompasses a total area of 7,109 square feet, resulting in a price per square foot of $242.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $1,725,000
  • Address: 742 Liberty Avenue
  • Market: East New York, Brooklyn
  • Square Footage: 7,109
  • Price Per Square Foot: $242
  • Buyer: Balkar Singh
  • Seller: Ricardo Garced
  • Brokers: Derek Bestreich, Steve Reynolds & Michael Murphy - Investment Property Realty Group (IPRG)

Derek Bestreich, Steve Reynolds, and Michael Murphy represented the seller in this transaction, facilitating the sale through their agency, Investment Property Realty Group (IPRG). The deal highlights the involvement of experienced brokers in securing the transaction between the buyer and seller.

Players

Derek Bestreich
Investment Property Realty Group (IPRG)
Derek Bestreich
312 deals$1.1B volume(718) 360-8802
BROKER
Michael (Mike) Murphy
Investment Property Realty Group (IPRG)
Michael Murphy
9 deals$20.7M volume
BROKER
Steve Reynolds
Investment Property Realty Group (IPRG)
Steve Reynolds
133 deals$364.4M volume(718) 360-8807
BROKER

Details

SOLD
IMAGE: Derek Bestreich, Steve Reynolds & Michael Murphy DATE: 11/26/2024 ADDRESS: 742 Liberty Avenue MARKET: East New York, Brooklyn ASSET TYPE: Industrial BUYER: Balkar Singh SELLER: Ricardo Garced BROKERS: Derek Bestreich (@DerekBestreich), Steve Reynolds (@SteveReynoldsNYC) & Michael Murphy - Investment Property Realty Group (IPRG) (@IPRG_NY) SALE PRICE: $1,725,000 SF: 7,109 ~ PPSF: $242

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$91,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,128.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,177.38
Annual Debt Service$98,128.56