East Group Capital Acquires Mixed-Use Property On Atlantic Avenue In Brooklyn For $675,000
SOLD
$675,000
New York
See Similar DealsMixed-use2,001 SF
Sold 07/01/2020
SOLD
East Group Capital Acquires Mixed-Use Property On Atlantic Avenue In Brooklyn For $675,000
1219 Atlantic Avenue, Brooklyn, NY, USA
See Similar DealsMixed-use2,001 SF
Sold 07/01/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$337
Total Square Footage:2,001 SF
Transaction Type:Sale
A mixed-use property located at 1219 Atlantic Avenue in Brooklyn was recently sold in a closed transaction. The property spans 2,001 square feet and features a mix of residential and commercial spaces. The sale took place on 07/01/2021.
Summary of transaction details
- Property Type: Mixed-use
- Address: 1219 Atlantic Avenue
- Market: Brooklyn
- Asking Price: $850,000
- Sale Price: $675,000
- Square Footage: 2,001
- Price per Square Foot: $337
The buyer of the property was East Group Capital represented by Ofir Badash & Itay Gamlieli. On the other hand, the seller was Jacob Frankel. The transaction resulted in a final sale price of $675,000, which equates to a price per square foot of $337.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$36,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,398.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,199.84
Annual Debt Service$38,398.13
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