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1418 Coney Island Avenue

Merdad Ghanooni Acquires Mixed-Use Property In Midwood, Brooklyn For $1.15M
SOLDMixed-use

Merdad Ghanooni Acquires Mixed-Use Property In Midwood, Brooklyn For $1.15M

1418 Coney Island Avenue

$1,150,000

$363/SF

Building Size

3,160 SF

Asset Type

Mixed-use

Closing

Aug 16, 2022

AI

The mixed-use property located at 1418 Coney Island Ave. in Midwood, Brooklyn has been sold. The transaction took place on 08/16/2022. The property spans across 3,160 square feet and was sold for a price of $1,150,000, resulting in a price per square foot of $363.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,150,000
  • Address: 1418 Coney Island Ave.
  • Market: Midwood, Brooklyn
  • Buyer: Merdad Ghanooni
  • Seller: Berezin Family
  • Brokers: Eli Maryl & Ohad Babo - GFI Realty

Eli Maryl and Ohad Babo from GFI Realty represented the buyer and seller, facilitating the transaction.

Players

Ohad Babo

Kassin Sabbagh Realty

Broker

$192.7M

vol

20 deals

Broker

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

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93