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1634 Coney Island Ave, Broo...

Adam Hanan Acquires Mixed-Use Property On Coney Island Ave, Brooklyn
SOLDMixed-use

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

Anthony Ferraro Jr.

4 Seasons Realty

Broker

$8M

vol

5 deals

Broker

Adam Hanan

Buyer

$1.7M

vol

2 deals

Buyer

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