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1577 Pitkin Avenue, Brookly...

Updated Dec 21, 2023

Shoaib Qureshi Acquires Mixed-Use Property In East New York For $935K
SOLDMixed-use

Shoaib Qureshi Acquires Mixed-Use Property In East New York For $935K

1577 Pitkin Avenue, Brooklyn, New York 11212, United States

$935,000

$667/SF

Building Size

1,400 SF

Asset Type

Mixed-use

Closing

Mar 31, 2022

About this deal

AI

A mixed-use property located at 1577 Pitkin Ave. in East New York has been sold for $935,000. The property spans 1,400 square feet, resulting in a price per square foot of $667. The sale took place on 04/01/2022.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $935,000
  • Address: 1577 Pitkin Ave.
  • Market: East New York
  • Square Footage: 1,400

The buyer of the property is Shoaib Qureshi, while the seller is Samuel Suede. Representing the buyer is Frederick Betesh from Tri State Commercial Realty, and Chandler Slate, also from Tri State Commercial Realty, is the seller's representative. Tri-State Commercial Realty recently expanded its firm to include a commercial sales division, leveraging their company-wide knowledge, training, technology, and relationships to offer a unique perspective and strategy in advising clients. [email protected] and [email protected] are the contact details for Frederick Betesh and Chandler Slate, respectively.

Note: Tri-State Commercial Realty is known for its award-winning Brooklyn leasing team and has now ventured into commercial property sales, continuing to deliver results in a transparent and professional manner.

Players

Chandler Slate

Tri State Commercial Realty

Broker

$10.7M

vol

33 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $667 per square foot on a published $935K for 1,400 square feet (2022).

Visit Frederick Betesh to view all their deals.

Browse New York mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

16.97%

Cash-on-Cash

-4.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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