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Eddie Surure Acquires Mixed-Use Building In Brownsville, Brooklyn For $3M
SOLD
$3,000,000
New York
See Similar DealsMixed-use12,421 SF
Sold 12/06/2023
SOLD
Eddie Surure Acquires Mixed-Use Building In Brownsville, Brooklyn For $3M
1683 Pitkin Avenue
See Similar DealsMixed-use12,421 SF
Sold 12/06/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$241
Total Square Footage:12,421 SF
Transaction Type:Sale
A two-unit mixed-use building located at 1683 Pitkin Avenue in Brownsville, Brooklyn, has been sold for $3 million. The property spans a total of 12,421 square feet, resulting in a price per square foot of $242. The transaction took place on December 6, 2023.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Address: 1683 Pitkin Avenue
- Market: Brownsville, Brooklyn
- Square Footage: 12,421
- Price per Square Foot: $242
Eddie Surure, represented by the entity 1681 Pitkin Partners LLC, was the buyer in this transaction. The seller was Nakash Holdings and Aaron Cohen. Chester Rockaway Associates facilitated the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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