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1409 Foster Avenue

Dr. Nasrullah Khan Acquires Mixed-Use Property In Ditmas Park, Brooklyn For $3.3M
SOLDMixed-use

Dr. Nasrullah Khan Acquires Mixed-Use Property In Ditmas Park, Brooklyn For $3.3M

1409 Foster Avenue

$3,300,000

$578/SF

Building Size

5,700 SF

Asset Type

Mixed-use

Closing

Oct 3, 2023

AI

A mixed-use property located at 1409 Foster Avenue in Ditmas Park, Brooklyn has been sold for $3,300,000. The property spans 5,700 square feet and has a price per square foot of $579. The transaction took place on 10/03/2023. The property is situated in the Ditmas Park market, known for its diverse mix of residential and commercial spaces.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $3,300,000
  • Square Footage: 5,700
  • Price Per Square Foot: $579
  • Address: 1409 Foster Avenue, Ditmas Park, Brooklyn

The buyer of the property is Dr. Nasrullah Khan, while the seller is Allon Avgi. The deal was facilitated by the brokers from Tri State Commercial Realty, namely Moshe Akiva, Jack Sarder, and Kirill Galperin. They served as representatives for both the buyer and the seller, ensuring a successful transaction.

Players

Moshe Akiva

Momentum Realty Group

Broker

$3.3M

vol

24 deals

Broker

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

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93