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
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