Jack Cohen's Comjem Associates Acquires Mixed-Use Property In Flatbush For $5.6M
1169 Flatbush Ave, Brooklyn, NY 11226, USA
$5,600,000
$169/SF
Building Size
32,970 SF
Asset Type
Mixed-use
Closing
Aug 4, 2019
About this deal
AI
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.
On the Map
$5,600,000
$169/SF
Mixed-use
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Players
Brooklyn 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
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93