Adam Hanan Acquires Mixed-Use Property On Coney Island Ave, Brooklyn
1634 Coney Island Ave, Brooklyn, NY 11230, USA
$1,730,000
$540/SF
Building Size
3,200 SF
Asset Type
Mixed-use
Closing
Nov 28, 2020
AI
The mixed-use property located at 1634 Coney Island Ave in Midwood, Brooklyn has been sold. The property boasts a total square footage of 3,200 and was sold at a sale price of $1,730,000. The property was initially listed with an asking price of $1,799,999, indicating that it sold at a slightly lower price. With a price per square foot of $540, this transaction highlights the value of the property in the market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,730,000
- Seller: Andrea Stack & Janine Gregorio
- Buyer: Adam Hanan
- Broker: Four Seasons Realty Co - Anthony Ferraro Jr.
Four Seasons Realty Co, represented by Anthony Ferraro Jr., facilitated the transaction between the sellers, Andrea Stack and Janine Gregorio, and the buyer, Adam Hanan. This deal showcases the expertise and negotiation skills of Anthony Ferraro Jr. in successfully bringing together both parties and ensuring a smooth sale.
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
9.17%
Cash-on-Cash
-2.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93