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1073 Nostrand Avenue, Brook...

Updated Dec 21, 2023

Barak Raviv Acquires Mixed-Use Property In Prospect Lefferts Gardens For $1.73M
SOLDMixed-use

Barak Raviv Acquires Mixed-Use Property In Prospect Lefferts Gardens For $1.73M

1073 Nostrand Avenue, Brooklyn, NY, USA

$1,734,000

$525/SF

Building Size

3,300 SF

Asset Type

Mixed-use

Closing

Jun 17, 2020

About this deal

AI

Located at 1073 Nostrand Ave in Prospect Lefferts Gardens, this mixed-use property was recently sold in a closed transaction. The property spans 3,300 square feet and features a variety of uses. The sale took place on 06/17/2021, with a sale price of $1,734,000, resulting in a price per square foot of $525. The buyer was Barak Raviv, represented by Ian Mednick from Compass. The seller, Ashley Hirschorn, was represented by Zalman Yarmush, Daniel Greenblatt, and Shaun Riney from New York Multifamily and Marcus & Millichap NY.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,734,000
  • Market: Prospect Lefferts Gardens
  • Buyer: Barak Raviv
  • Seller: Ashley Hirschorn
  • Buyer's Representative: Ian Mednick - Compass
  • Seller's Representatives: Zalman Yarmush, Daniel Greenblatt, Shaun Riney - New York Multifamily, Marcus & Millichap NY

The transaction involved key individuals and companies, with Ian Mednick representing the buyer, Barak Raviv, and Zalman Yarmush, Daniel Greenblatt, and Shaun Riney representing the seller, Ashley Hirschorn. These representatives played a crucial role in ensuring the successful completion of the sale at the agreed-upon price. The transaction further highlights the active real estate market in Prospect Lefferts Gardens.

Players

Zalman Yarmush

Yarmush Investment Group

Broker

$90.8M

vol

25 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.9B

vol

377 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $525 per square foot on a published $1.7M for 3,300 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.15%

Cash-on-Cash

-2.61%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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