The Luces Family Acquires Mixed-Use Property In Flatbush, Brooklyn For $1.35M
1828 Nostrand Ave. Brooklyn, NY 11226, USA
$1,350,000
$264/SF
Building Size
5,100 SF
Asset Type
Mixed-use
Closing
Aug 9, 2023
AI
A mixed-use property located at 1828 Nostrand Avenue in the Flatbush neighborhood of Brooklyn has been sold for a price of $1,350,000. Spanning 5,100 square feet, this property offers a versatile space for various purposes. The sale price of $1,350,000 reflects a price per square foot of $265.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,350,000
- Location: 1828 Nostrand Avenue, Flatbush, Brooklyn
- Market: Flatbush, Brooklyn
The buyer of this property is the Luces Family, while the seller is Mark Parris. Alana McIntosh from Keller Williams Realty Empire served as the broker representing both parties in this transaction. With their expertise and guidance, the deal was successfully expedited.
Market 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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93