Ruben Luna Acquires Mixed-Use Building On Utica Avenue, Flatlands, Brooklyn For $9.8M
1771 Utica Avenue & 1807 Utica Avenue
$9,775,000
$301/SF
Building Size
16,200 SF
Asset Type
Mixed-use
Closing
Nov 30, 2023
About this deal
AI
Ruben Luna, via 1771 Utica Properties LLC, acquired the mixed-use building at 1771-1807 Utica Avenue in Flatlands, Brooklyn. The property has a total square footage of 16,200, and the sale price was $9,775,000, resulting in a price per square foot of $603. The building has a total of 50,000 buildable square feet, with a price per buildable square foot of $196.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $9,775,000
- Buyer: Ruben Luna
- Seller: George Kyriakoudes
- Address: 1771-1807 Utica Avenue
- Market: Flatlands, Brooklyn
- SF: 16,200
- PPSF: $603
- BSF: 50,000
- PPBSF: $196
The buyer, Ruben Luna, made the purchase through 1771 Utica Properties LLC. The seller was George Kyriakoudes' Lancaster Realty Mgt. Corp. The sale transaction took place on November 30, 2023.
Players
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
1.62%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93