Core Equities LLC Acquires Mixed-use Property In Fort Greene For $1.78M
108 Flushing Avenue, Brooklyn, New York 11205, United States
$1,775,000
$289/SF
Building Size
6,126 SF
Asset Type
Mixed-use
Closing
Mar 16, 2022
AI
Located at 108 Flushing Ave. in Fort Greene, this mixed-use property was recently sold in a closed transaction. The sale was handled by Derek Bestreich, Luke Sproviero, and David R. Lachtman, representing the seller, Bestreich Realty Group (BRG). The property spans 6,126 square feet and was sold for a price of $1,775,000, resulting in a price per square foot of $289.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,775,000
- Address: 108 Flushing Ave.
- Market: Fort Greene
- Square Footage: 6,126
The buyer in this transaction was Core Equities LLC, represented by David R. Lachtman from Lachtman Cohen P.C. It's worth mentioning that Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, Daniel Shawah, and Gabriel Kates from BRG acted as the seller's representatives. This successful sale showcases the ongoing activity and interest in the Fort Greene market.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.94%
Cash-on-Cash
-2.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93