Jack Cohen's Comjem Associates Acquires Mixed-Use Property In Flatbush For $5.6M
SOLD
New York
See Similar DealsMixed-use32,970 SF
Sold 08/05/2019
SOLD
Jack Cohen's Comjem Associates Acquires Mixed-Use Property In Flatbush For $5.6M
1169 Flatbush Ave, Brooklyn, NY 11226, USA
See Similar DealsMixed-use32,970 SF
Sold 08/05/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$169
Total Square Footage:32,970 SF
Transaction Type:Sale
Located at 1169 Flatbush Avenue in the Flatbush market, the mixed-use property was recently involved in a closed transaction. The property spans a total area of 32,970 square feet, with a price per square foot of $169.85. The transaction involved the sale of 28 units, each priced at $200,000, resulting in a total transaction amount of $5,600,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,600,000
- Address: 1169 Flatbush Avenue
- Market: Flatbush
- Square Footage: 32,970
- Price per Square Foot: $169.85
- Units: 28
- Price per Unit: $200,000
The buyer in this transaction was Jack Cohen of Comjem Associates, while Mark Mehlman acted as the seller. The deal was carried out through their respective representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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