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David Jacob Acquires Mixed-Use Property In Flatbush For $1.22M

Property Image
SOLD
$1,225,000
Isaiah Thomas

New York

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Mixed-use33,000 SF
Sold 01/07/2020
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Property Image
SOLD

David Jacob Acquires Mixed-Use Property In Flatbush For $1.22M

1816 Nostrand Ave, Brooklyn, NY 11226, USA

See Similar Deals
Mixed-use33,000 SF
Sold 01/07/2020
Isaiah Thomas
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$37
Total Square Footage:33,000 SF
Transaction Type:Sale

A mixed-use property located at 1816 Nostrand Avenue in Flatbush has been sold for a total price of $1,225,000. The property spans 3,300 square feet and has a price per square foot of $371. It consists of two residential units and one retail unit, making it a versatile asset for potential buyers. The transaction includes a purchase price per unit of $408,333.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,225,000
  • Address: 1816 Nostrand Avenue, Flatbush
  • Market: Flatbush
  • Square Footage: 3,300
  • Price per Square Foot: $371
  • Units: 2 Residential; 1 Retail
  • Price per Unit: $408,333

TerraCRG, represented by Matt Cosentino and Isaiah Thomas, facilitated the transaction between seller Max Kozlowitz and buyer David Jacob. With their expertise, the deal was successfully negotiated, showcasing the professionalism and skill of TerraCRG as a brokerage agency.

Players

Isaiah Thomas
17 deals$76.9M volume(347) 886-1235
BROKER

Matthew (Matt) Cosentino
Terra CRG
81 deals$319M volume
BROKER

Details

SOLD
IMAGE: Matt Cosentino & Isaiah Thomas DATE: 01/07/2020 ADDRESS: 1816 Nostrand Avenue MARKET: Flatbush ASSET TYPE: Mixed-use SALE PRICE: $1,225,000 SF: 3,300 PPSF: $371 UNITS: 2 Residential; 1 Retail PPU: $408,333 SELLER: Max Kozlowitz BUYER: David Jacob BROKERS: TerraCRG – Matt Cosentino & Isaiah Thomas

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$65,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,352.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,807.12
Annual Debt Service$69,685.50