Tom Shimura Sells Mixed-use Property On E. 14th St. In Midwood For $2.95M With Avraham Birnbaum & Reuben Lugassy - Twelve Stones Realty
SOLD
$2,950,000
New York
See Similar DealsMixed-use10,612 SF
Sold 04/01/2022
SOLD
Tom Shimura Sells Mixed-use Property On E. 14th St. In Midwood For $2.95M With Avraham Birnbaum & Reuben Lugassy - Twelve Stones Realty
1502 East 14th Street, Brooklyn, New York 11230, United States
See Similar DealsMixed-use10,612 SF
Sold 04/01/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$278
Total Square Footage:10,612 SF
Transaction Type:Sale
The mixed-use property located at 1502 E. 14th St. in Midwood has been sold for $2,950,000. The transaction took place on 04/01/2022. The property spans across 10,612 square feet, resulting in a price per square foot of $277. The seller of the property was Tom Shimura. The sale was facilitated by brokers Avraham Birnbaum and Reuben Lugassy of Twelve Stones Realty.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,950,000
- Date: 04/01/2022
- Address: 1502 E. 14th St.
- Market: Midwood
- Size: 10,612 square feet
- Price per Square Foot: $277
In this transaction, Avraham Birnbaum and Reuben Lugassy of Twelve Stones Realty represented the buyer and seller respectively. They played a crucial role in ensuring the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$157,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,480.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,984.51
Annual Debt Service$167,814.06
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