East Group Capital Acquires Mixed-Use Property On Atlantic Avenue In Brooklyn For $675,000
1219 Atlantic Avenue, Brooklyn, NY, USA
$675,000
$337/SF
Building Size
2,001 SF
Asset Type
Mixed-use
Closing
Jul 1, 2020
AI
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.
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
23.50%
Cash-on-Cash
-6.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93