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1552 Coney Island Avenue

Eldar Rakhamimov Purchases Mixed-Use Property At 1552 Coney Island Avenue For $1.6M
SOLDMixed-use

Eldar Rakhamimov Purchases Mixed-Use Property At 1552 Coney Island Avenue For $1.6M

1552 Coney Island Avenue

$1,600,000

$645/SF

Building Size

2,480 SF

Asset Type

Mixed-use

Closing

Apr 28, 2025

AI

The property asset involved in this transaction is a mixed-use building located at 1552 Coney Island Avenue, situated in the Brooklyn market. The sale was executed for a price of $1,600,000 and has a total square footage of 2,480, resulting in a price per square foot of $645.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,600,000
  • Address: 1552 Coney Island Avenue
  • Market: Brooklyn
  • Square Footage: 2,480
  • Price Per Square Foot: $645
  • Buyer: Eldar Rakhamimov
  • Seller: Ahsan Tassawar
  • Buyer's Representative: Michael Gammal & Charles Haber - Swift Retail Advisors

Key individuals involved in the transaction include buyer Eldar Rakhamimov and seller Ahsan Tassawar, who completed this deal with the assistance of their representative brokers, Michael Gammal and Charles Haber from Swift Retail Advisors, ensuring a successful transaction process.

Players

Michael Gammal

Swift Real Estate Advisors

Broker

$1.6M

vol

17 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

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93